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A-Level Economics Practice Questions - A-Level Economics Exam

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About this Exam

Prepare with the A-Level Economics Practice Questions - A-Level Economics Exam practice quiz. This question bank includes 100 questions covering price, demand, bank, equilibrium, and output. Use it to review important concepts, identify knowledge gaps, and build confidence for the related exam, course, or assessment.

Sample Questions

Question 1
A 10% rise in the price of cinema tickets causes quantity demanded to fall by 15%. What is the price elasticity of demand (PED)?
-0.67, inelastic
-1.5, elastic
+1.5, elastic
-0.15, inelastic
Question 2
A firm sells a product with price elasticity of demand of -0.4. If it raises price by 5%, what happens to total revenue?
Falls by approximately 5%
Rises by approximately 3%
Stays unchanged
Falls by approximately 2%
Question 3
Income elasticity of demand (YED) for own-brand supermarket bread is calculated to be -0.6. What does this indicate?
A normal necessity good
A luxury good
An inferior good
A Giffen good only
Question 4
Cross elasticity of demand (XED) between Pepsi and Coca-Cola is most likely to be:
Large and negative
Zero
Large and positive
Small and negative
Question 5
Which factor would make the supply of North Sea oil more price inelastic in the short run?
Long lead-times to drill new wells
Many idle rigs that can be re-activated quickly
Existence of close substitutes
High stocks held in storage

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Additional Information

A-Level Economics Practice Questions - A-Level Economics Exam

This practice set contains 100 questions from the matching question bank and focuses on price, demand, bank, equilibrium, and output. Work through each question carefully, review the provided solutions, and revisit topics that need more study before your next attempt.

This is an independent study resource intended for practice and review; it is not an official examination or an endorsement by any organization named in the title.

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Frequently Asked Questions

This quiz contains a total of 100 practice questions carefully selected to test your knowledge on this subject.
Yes, you will have exactly 0 minutes to complete the exam. A countdown timer will be visible once you start.
Yes, you can retake this practice test as many times as you need. The questions and options may be randomized on subsequent attempts to ensure comprehensive learning.

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