Economics Multiple Choice Question – 6 November 2022

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

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What is an advantage of using the market mechanism to allocate resources between alternative uses?

Select ONE answer:

  1. It ensures that resources will be allocated efficiently.
  2. It ensures that resources are allocated in accordance with need.
  3. It minimises the time required to make decisions.
  4. It gives all consumers an equal voice in deciding how resources should be allocated.

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 3

  1. Not correct
  2. Not correct
  3. Correct
  4. Not correct

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