Economics Multiple Choice Question – 20 December 2021

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

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Which statement is correct?

Select ONE answer:

  1. In the short run all factors of production are fixed; in the long run all factors are varied.
  2. In the short run at least one factor is fixed; in the long run all factors can be varied.
  3. In the short run at least one factor is varied; in the long run all factors are fixed.
  4. In the short run at least one factor is varied; in the long run at least one factor is fixed.

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

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