Economics Section 2 Revision Quiz

Select one determinant of supply.

Which of these is a type of economic system?

Which of these is a relatively inelastic product?

How do you calculate the price elasticity?

The law of demand states that if the price falls, the quantity...

A Free market prompts innovation.

What is available to everyone in the economy or not at all?

The demand and supply curves are always curved.

The equilibrium point determines...

The PED is not always horizontal.