Tag: A-Level

A decrease in the demand for beef because of concerns over cholesterol will result in ……?

Select ONE answer:

1. An offsetting increase in the demand for beef if the price of beef falls.
2. Higher beef prices.
3. An increase in the supply of beef.
4. Lower beef prices.

What is meant by the business objective of “market share”?……………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………

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

The answer is 4

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Coffee and sugar are complements. If a poor sugar harvest leads to an increase in the price of sugar, there will also be ……?

Select ONE answer:

1. A rightward shift in the demand curve for coffee.
2. A leftward shift in the supply curve of coffee.
3. An increase in coffee prices as well.
4. A decrease in coffee prices.

What is meant by the business objective of “survival”?……………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………

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

The answer is 4

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

If the UK Medical Council announces that increased wheat consumption could cause heightened anxiety levels among children and adults, what happens to the equilibrium price and quantity of Nestlé’s Shredded Wheat?

Select ONE answer:

1. The equilibrium price falls and the equilibrium quantity decreases.
2. The equilibrium price rises and the equilibrium quantity increases.
3. The equilibrium price rises and the equilibrium quantity decreases.
4. The equilibrium price falls and the equilibrium quantity increases.

What is meant by “sales maximisation”?……………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………

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

The answer is 1

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

When a market is in equilibrium, then …….?

Select ONE answer:

1. There is no automatic tendency for either the supply curve or the demand curve to shift.
2. There is not a surplus at the existing price.
3. There is not a shortage at the existing price.
4. All of the above answers are correct.

What is meant by “profit maximisation”?……………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………

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

The answer is 4

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

As the price of a pound of peanuts falls, then the …….?

Select ONE answer:

1. Quantity of peanuts supplied will decrease.
2. Quantity of peanuts supplied will increase.
3. Supply of peanuts will decrease.
4. Supply of peanuts will increase.

What is meant by “the importance of opportunity costs to producers”?

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

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

The answer is 1

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