Day: September 15, 2021

The UK has low unemployment and is managing the float of Sterling against What follows if the income elasticity of demand for a good has a value of – 0.2?

Select ONE answer:

1. When income rises less of the good is bought.
2. When income rises more of the good is bought.
3. When price falls more of the good is bought.
4. When price rises less of the good is bought.

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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