Tag: KS4

In August 2002, the US President signed a trade agreement which allowed more duty-free access to the US market for Latin American and Caribbean countries.

Who might benefit in the short run from this agreement?

Select ONE answer:

1. Caribbean countries, because they may export to Latin America
2. Latin American businesses, because they may be able to sell more in the US
3. Latin American governments, because they will not have to pay so much duty
4. the US, because it may export more to Latin America

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.

In an economy, both employment and unemployment rose over a ten year period.

What must have risen?

Select ONE answer:

1. birth rate
2. life expectancy
3. unemployment benefits
4. working population

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.

Which method of protection raises revenue for the government?

Select ONE answer:

1. domestic subsidies
2. embargo
3. quota
4. tariff

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 always a characteristic of a public good?

Select ONE answer:

1. Consumption of the good by one individual prevents consumption by any other individual.
2. It confers benefits on consumers that are greater than they themselves realise.
3. It is supplied by a voluntary organisation.
4. The benefits it confers on consumers can be extended to others at zero cost.

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.

During a certain period, 10,000 units of a normal good are sold at a price of 20p.
During a later period, 12,000 units are sold at a price of 22p.
What could explain this change?

Select ONE answer:

1. a reduction in consumers’ incomes
2. an increase in the cost of raw materials
3. an increase in the price of a substitute commodity
4. an increase in the productivity of factors of production

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.