Economics Multiple Choice Question – 25 September 2021

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

Economics
Photo by Kelly Lacy on Pexels.com

A country decides to remove all its tariffs and engage in free international trade.

What will be the final decision the country has to make before free trade takes place?

Select ONE answer:

  1. deciding which resources to allocate to the production of goods and services for international trade
  2. deciding which goods and services should be provided for international trade
  3. identifying the opportunity costs of production of goods and services which might be used for international trade
  4. setting an appropriate exchange rate for the international trade of goods and services

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.

Author: stuart001uk2014

Referral marketing, business, economics and accounting s​pecialist & corporate mentor

Leave a Reply

Please log in using one of these methods to post your comment:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s