Economics Unit 1 Quiz (True or False)

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Created by: Luke Topps
Created on: 19-12-11 11:47

1. Normal goods have a negative income elasticity of demand.

False
True

1 of 10

2. Substitute goods are frequently consumed together.

False
True

3. Consumer surplus is difference between the maximum amount of money consumers are willing to pay for a product and the actual market price.

True
False

4. A free good has no opportunity cost.

True
False

5. If a good is inelastic, it will have an answer of above plus 1.

False
True

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Comments

Zoeeee

Report Sat 24th December, 2011 @ 00:32

These are really good :)

faisal bilal hussain

Report Tue 3rd January, 2012 @ 19:46

100% **** yes lol hope everyone does great in there exams :D

Louisa Wray

Report Mon 14th May, 2012 @ 18:48

100% - LAD.

izzy

Report Sun 27th January, 2013 @ 22:17

nice quick helpful quiz!

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