Economics Multiple Choice Question – 26 July 2021

How is the market supply of a product in a competitive market obtained?

Select ONE answer:

1. by aggregating the supply of all firms producing the product
2. by averaging the supply of all firms producing the product
3. by calculating the supply of the typical firm producing the product
4. by estimating the supply of the largest firm producing the product

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

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