Month: June 2021

Business Studies Multiple Choice Question – 30 June 2021

The home of multiple choice questions for all your KS3, KS4 and KS5 Business Studies, Economics and Accounting requirements.

Photo by Andrea Piacquadio on Pexels.com

Lucy Jewels Ltd is a family-owned jewellery business, has 15 stores and 250 employees in the UK. 

Which of the following is an example of a fixed cost for Lucy Jewels Ltd?

Select ONE answer:

  1. Store rents
  2. Delivery costs
  3. Stock purchases
  4. Packaging costs

Show your workings to arrive at your answer, and explain and justify your reasons:

……………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………

This multiple-choice question is suitable for Accounting KS5 classes.

The answer is 1

  1. Correct ==> Definition of fixed costs: costs that do not vary with output.  Lucy Jewels Its has 15 stores which will pay an annual rent.  Rent must be paid regularly, whether or not any sales are made therefore this is a fixed cost.
  2. Not correct
  3. Not correct
  4. Not correct

Creative Commons License
This work is licensed under a Creative Commons Attribution 4.0 International License.

Economics Multiple Choice Question – 29 June 2021

The home of multiple choice questions for all your KS3, KS4 and KS5 Business Studies, Economics and Accounting requirements.

sacks of coffee beans
Photo by Kelly Lacy on Pexels.com

In country X the government aims to protect jobs.

Which policy is most likely to succeed?

Select ONE answer:

  1. decrease restrictions on immigrant labour
  2. decrease subsidies to domestic producers
  3. increase general tariffs on imports
  4. remove quotas on imports

Show your workings to arrive at your answer, and explain and justify your reasons:……………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………

This multiple choice question is suitable for Economics KS4 and KS5 classes.

The answer is 3

  1. Not correct
  2. Not correct
  3. Correct
  4. Not correct

Creative Commons License
This work is licensed under a Creative Commons Attribution 4.0 International License.

Economics Multiple Choice Question – 28 June 2021

The home of multiple choice questions for all your KS3, KS4 and KS5 Business Studies, Economics and Accounting requirements.

sacks of coffee beans
Photo by Kelly Lacy on Pexels.com

An economy adopts an expansionary monetary policy to boost employment. A result of this policy is that the consumer price index rises at an accelerating rate.

Which curve could represent this?

Select ONE answer:

  1. Kuznets curve
  2. Laffer curve
  3. Lorenz curve
  4. Phillips curve

Show your workings to arrive at your answer, and explain and justify your reasons:……………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………

This multiple choice question is suitable for Economics KS4 and KS5 classes.

The answer is 4

  1. Not correct
  2. Not correct
  3. Not correct
  4. Correct

Creative Commons License
This work is licensed under a Creative Commons Attribution 4.0 International License.

Economics Multiple Choice Question – 27 June 2021

The home of multiple choice questions for all your KS3, KS4 and KS5 Business Studies, Economics and Accounting requirements.

sacks of coffee beans
Photo by Kelly Lacy on Pexels.com

A government in a developed economy wishes to reduce cyclical unemployment.

Which policy is likely to be MOST effective?

Select ONE answer:

  1. decrease government expenditure and increase income tax
  2. decrease its budget deficit
  3. increase government expenditure and decrease income tax
  4. increase its budget surplus

Show your workings to arrive at your answer, and explain and justify your reasons:……………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………

This multiple choice question is suitable for Economics KS4 and KS5 classes.

The answer is 3

  1. Not correct
  2. Not correct
  3. Correct
  4. Not correct

Creative Commons License
This work is licensed under a Creative Commons Attribution 4.0 International License.

Economics Multiple Choice Question – 26 June 2021

The home of multiple choice questions for all your KS3, KS4 and KS5 Business Studies, Economics and Accounting requirements.

sacks of coffee beans
Photo by Kelly Lacy on Pexels.com

Which policy is likely to increase unemployment?

Select ONE answer:

  1. an increase in retraining facilities
  2. a significant increase in indirect taxes
  3. the imposition of selective import controls
  4. an increase in the public sector deficit

Show your workings to arrive at your answer, and explain and justify your reasons:……………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………

This multiple choice question is suitable for Economics KS4 and KS5 classes.

The answer is 2

  1. Not correct
  2. Correct
  3. Not correct
  4. Not correct

Creative Commons License
This work is licensed under a Creative Commons Attribution 4.0 International License.