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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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

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Economics Multiple Choice Question – 16 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 the boundary between those combination of goods and services that can be ……. ?

Select ONE answer:

  1. produced and those that can be consumed.
  2. consumed domestically and those that can be consumed by foreigners.
  3. consumed and those that cannot be produced.
  4. produced and those that cannot be produced.

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 4

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Economics Multiple Choice Question – 15 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 the boundary between ……. ?

Select ONE answer:

  1. those combinations of goods and services that can be produced and those that can be 
consumed.
  2. those combinations of goods and services that can be produced and those that cannot.
  3. those resources that are limited and those that are unlimited.
  4. those wants that are limited and those that are unlimited.

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 – 14 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. refers to the technology used in such goods as computers and military aircraft.
  2. marks the boundary between attainable combinations of goods and services and unattainable combinations.
  3. once applied to U.S. technology but now refers to Japanese technology.
  4. is also called the supply curve.

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 – 13 December 2018

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

If a perfectly competitive industry has external diseconomies, then the long-run supply curve is ……. ?

Select ONE answer:

  1. perfectly inelastic.
  2. positively sloped.
  3. perfectly elastic.
  4. negatively sloped.

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