Economics Multiple Choice Question – 27 March 2022

The demand for a product is inversely related to its price, ceteris paribus.

What does ceteris paribus mean in this context?

Select ONE answer:

1. Factors affecting demand other than price are held constant.
2. Factors affecting price other than demand are held constant.
3. Price changes result from changes in demand.
4. Price falls result in increased quantity demanded.

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.