Economics Multiple Choice Question – 25 July 2021

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

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The tariff on Russian goods entering the Uk falls from 20% to 10%.

What will be the most likely effect on the producer and consumer surplus in the UK?

Select ONE answer:

  1. UK producer surplus – Decrease  /  UK consumer surplus – Increase
  2. UK producer surplus – Decrease  /  UK consumer surplus – No Change
  3. UK producer surplus – Increase  /  UK consumer surplus – Increase
  4. UK producer surplus – Increase  /  UK consumer surplus – No Change

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 1

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

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