Y11 Economics Unit 1 AOS 2 Revision Quiz

Which of the following goods would be considered to have the most inelastic demand curve?

Which of the following would seen an increased supply to the market for wine?

Which type of market structure might be more likely to have unsustainable production?

Rank from most market power to least market power

Which is not a key feature of Market Structure

Which of the following factors would see a contraction in demand?

The supermarkets exercising their power to gain low prices from their suppliers is known as:

If the price in a market is above the equilibrium price there will be:

Which of the following is not a factor that could cause a shift in the supply curve

Which of the curves has an inverse relationship between price and quantity

A shift to the left of the supply curve will result in:

In which type of market would producers be most likely to be able to attain supernormal profits

In which type of market would sellers most be considered price takers?

If the price of milk remained constant while the price of milo increased by $4 which is true?

A shift to the right of the demand curve will result in