Economics Multiple Choice Question – 21 December 2018

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

A production possibilities frontier does NOT illustrate ……. ?

Select ONE answer:

  1. attainable and unattainable points.
  2. the exchange of one good or service for another.
  3. the limits on production imposed by our limited resources and technology.
  4. opportunity cost.

Show your workings to arrive at your answer, and explain and justify your reasons:……………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………

This multiple choice question is suitable for Economics KS5 classes.

The answer is 2

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Economics Multiple Choice Question – 20 December 2018

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

The production possibilities frontier represents ……. ?

Select ONE answer:

  1. the maximum levels of production that can be attained.
  2. the maximum amount of resources available at any given time.
  3. combinations of goods and services that do not fully use available resources.
  4. the maximum rate of growth of output possible for an economy.

Show your workings to arrive at your answer, and explain and justify your reasons:……………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………

This multiple choice question is suitable for Economics KS5 classes.

The answer is 1

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Economics Multiple Choice Question – 19 December 2018

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

The production possibilities frontier illustrates ……. ?

Select ONE answer:

  1. all goods that can be produced by an economy.
  2. all goods and services that are desired but cannot be produced due to scarce resources.
  3. the combination of goods and services that can be produced efficiently.
  4. all possible production of capital goods.

Show your workings to arrive at your answer, and explain and justify your reasons:……………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………

This multiple choice question is suitable for Economics KS5 classes.

The answer is 3

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Economics Multiple Choice Question – 18 December 2018

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

The production possibilities frontier ……. ?

Select ONE answer:

  1. depicts the boundary between those combinations of goods and services that can be produced and those that cannot given resources and the current state of technology.
  2. shows how many goods and services are consumed by each person in a country.
  3. is a graph with price on the vertical axis and income on the horizontal axis.
  4. is a model that assumes there is no scarcity and no opportunity cost.

Show your workings to arrive at your answer, and explain and justify your reasons:……………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………

This multiple choice question is suitable for Economics KS5 classes.

The answer is 1

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

Economics Multiple Choice Question – 17 December 2018

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

The production possibilities frontier is ……. ?

Select ONE answer:

  1. downward sloping and reflects tradeoffs in choices.
  2. downward sloping and reflects unlimited choices.
  3. upward sloping and reflects tradeoffs in choices.
  4. upward sloping and reflects unlimited choices.

Show your workings to arrive at your answer, and explain and justify your reasons:……………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………

This multiple choice question is suitable for Economics KS5 classes.

The answer is 1

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