Tag: KS4

Economics Multiple Choice Question – 31 May 2022

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

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What explains why the social cost of developing tourism on a remote island is greater than the private cost?

Select ONE answer:

  1. the costs of building extra hotels on the island
  2. the extra costs of providing the tourists with food
  3. the travel costs paid by tourists who visit the island
  4. the harm to the environment caused by the tourists

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

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Economics Multiple Choice Question – 30 May 2022

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

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In calculating the short-run supply schedule for a firm, what is assumed to remain unchanged?

Select ONE answer:

  1. the number of consumers
  2. the price of the good
  3. the quantities of all factors
  4. the state of technology

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

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

Economics Multiple Choice Question – 27 May 2022

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

Photo by Kelly Lacy on Pexels.com

What is meant by the ceteris paribus assumption?

Select ONE answer:

  1. an assumption that is not supported by the facts
  2. an assumption that consumers act rationally
  3. an assumption that two factors are in equilibrium
  4. an assumption that other factors are held constant

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

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

Business Studies Multiple Choice Question – 26 April 2022

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

woman draw a light bulb in white board
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Electromac produces audio products. The company was founded by music producer and singer Little Al.

The price elasticity of demand for Electromac Headphones is most likely to be low if the headphones.

Select ONE answer

  1. require a high proportion of a customer’s income
  2. have a unique and fashionable design
  3. are very similar to competitors’ headphones
  4. have low brand loyalty

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

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

This multiple-choice question is suitable for Business Studies KS4 & KS5 classes

The answer is 2

  1. Not correct – requiring a high proportion of income is likely to result in a high PED rather than a low PED as customers will be more price sensitive.
  2. Correct – % change in quantity demanded/ % change in price. If Electromac headphones have a unique and fashionable design customers will want to buy them regardless of price. This makes them less price sensitive thus leading to a low PED.
  3. Not correct – PED would be high rather than low as customers could easily switch to other headphone manufacturers on the market.
  4. Not correct – this would mean that customers are more willing to try other headphone brands over Electromac and it would have high.

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

Business Studies Multiple Choice Question – 21 April 2022

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

woman draw a light bulb in white board
Photo by Andrea Piacquadio on Pexels.com

A business has the following cash flow information for one particular month:

  • Opening balance: £15 000
  • Cash inflow: £17 000
  • Cash outflow: £34 000

What is the closing balance at the end of this month?

Select ONE answer

  1. – £12 000
  2. – £2 000
  3. £9 000
  4. £16 000

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

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

This multiple-choice question is suitable for Business Studies KS4 & KS5 classes

The answer is 2

  1. Not correct
  2. Correct
  3. Not correct
  4. Not correct

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