Economics Multiple Choice Question – 2 March 2018

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

If the price of chocolate chip cookies falls, then ………?

Select ONE answer:

  1. The supply curve of chocolate chip cookies would shift leftward.
  2. There would be a movement downward along the supply curve of chocolate chip cookies.
  3. The supply curve of chocolate chip cookies would shift rightward.
  4. There would be a movement upward along the supply curve of chocolate chip cookies.

What is meant by “the problem of scarcity”?……………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………

This is multiple choice question is suitable for Economics KS5 classes.

The answer is 2

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Economics Multiple Choice Question – 1 March 2018

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

The “law of supply” states that if other things remain the same ………?

Select ONE answer:

  1. Firms will produce less of a good the more it costs to produce it.
  2. Firms will produce more of a good the less it costs to produce it.
  3. Firms will produce more of a good the higher its price.
  4. Firms will produce less of a good as the required resources become scarcer.

What is meant by “the economic problem”?

……………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………

This is multiple choice question is suitable for Economics KS5 classes.

The answer is 3

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Business Studies Multiple Choice Question – 28 February 2018

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

Which ONE of the following is a true statement about private limited companies (Ltd’s)?

Choose ONE answer only:

  1. They are not owned by shareholders
  2. They have to have at least two directors
  3. They do not have a separate legal identity from the business’s owners
  4. The owners have limited liability
  5. They do not have to pay corporation tax

Explain one disadvantage to a business of having limited liability?

……………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………

This is multiple choice question is suitable for Business Studies KS4 classes.

The answer is 4 – A private limited company has to have at least one director. Private limited companies have a separate legal identity to the business’s owners (called shareholders) and are subject to corporation tax, which is a tax on company profits.

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Business Studies Multiple Choice Question – 27 February 2018

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

Which ONE of the following is a true statement about private limited companies (Ltd’s)?

Choose ONE answer only:

  1. They are owned by shareholders
  2. They have to have at least two directors
  3. They do not have a separate legal identity from the business’s owners
  4. The owners do not have limited liability
  5. They do not have to pay corporation tax

 

Explain one advantage to a business of having limited liability?

……………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………

This is multiple choice question is suitable for Business Studies KS4 classes.

The answer is 1 – A private limited company has to have at least one director. Private limited companies have a separate legal identity to the business’s owners (called shareholders) and are subject to corporation tax, which is a tax on company profits.

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Business Studies Multiple Choice Question – 26 February 2018

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

Which ONE of the following is an advantage of using a bank loan to finance a business?

Choose ONE answer only:

  1. Less flexible than overdrafts
  2. Regular interest payments are incurred
  3. Collateral is often required to offer as security for the loan
  4. Relatively straightforward to arrange
  5. Can be recalled before the agreed date

Explain one advantage to a business of using a bank loan to finance a business?

……………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………

This is multiple choice question is suitable for Business Studies KS4 classes.

The answer is 4 – As long as a business can produce evidence that the loan is likely to be repaid within the time agreed, they are relatively straightforward to arrange. In addition, unlike overdrafts, they cannot be recalled before the agreed date. The other three options are all disadvantages of bank loans.

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