Category: Economics

What would cause a shift in the short-run aggregate supply curve but NOT the long-run aggregate supply curve?

Select ONE answer:

1. advances in technology
2. a change in the money wage rate
3. emigration of people of working age
4. gross investment exceeding depreciation

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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What is UNLIKELY to occur with an increase in the provision of public goods?

Select ONE answer:

1. consumer non-excludability
2. improved use of resources
3. opportunity cost
4. reduction in tax

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

This work is licensed under a Creative Commons Attribution 4.0 International License.

What is NOT true about subsidies?

Select ONE answer:

1. They are paid to firms.
2. They have to be paid back.
3. They reduce the cost of production.
4. They shift the supply curve to the right.

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.

Which statement about nationalised and privatised industries is correct?

Select ONE answer:

1. A privatised industry is usually less competitive than a nationalised industry.
2. A profitable private company cannot be nationalised.
3. Privatisation is a form of monetary policy.
4. Privatisation is a way of raising money for the government.

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

This work is licensed under a Creative Commons Attribution 4.0 International License.

An economy has a 30% housing shortage. The county council builds 30% more houses for low-income families and fixes the rent below the equilibrium for the market.

Which effect will this direct provision by the county council have on the market?

Select ONE answer:

1. A greater imbalance in the market in private housing will develop.
2. Housing waiting lists for poorer families will be cleared.
3. The supply of government housing will fall short of demand.
4. The supply of private housing for rent will fall by 30%.

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

This work is licensed under a Creative Commons Attribution 4.0 International License.