Economics Unit 1 Revision Quiz

Unit 1 quiz for AQA Economics

?
Excise Duties are?
A specific tax which doesn't change with price
1 of 5
What is the formula for income elasticity of demand?
% change in Quantity divided by % change in income
2 of 5
An example of a public good is?
Lamp posts
3 of 5
Define VAT
Value Added Tax
4 of 5
A positive externality is when
Social benefits is more than private benefits
5 of 5

Other cards in this set

Card 2

Front

What is the formula for income elasticity of demand?

Back

% change in Quantity divided by % change in income

Card 3

Front

An example of a public good is?

Back

Preview of the front of card 3

Card 4

Front

Define VAT

Back

Preview of the front of card 4

Card 5

Front

A positive externality is when

Back

Preview of the front of card 5

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