theory of demand and elasticity of demand

theory of demand and elasticity of demand

11th Grade

20 Qs

quiz-placeholder

Similar activities

Government microeconomic Intervention 1 As Level & A level

Government microeconomic Intervention 1 As Level & A level

11th Grade

25 Qs

Blender 3D 1

Blender 3D 1

9th - 12th Grade

19 Qs

Fashion Cycle & Fashion Movement

Fashion Cycle & Fashion Movement

9th - 12th Grade

20 Qs

Micro Economics

Micro Economics

11th Grade

22 Qs

LATIHAN PAT ANIMASI 3D

LATIHAN PAT ANIMASI 3D

11th Grade

25 Qs

Adobe Illustrator basics

Adobe Illustrator basics

9th - 12th Grade

15 Qs

Parts Of A Cello

Parts Of A Cello

KG - Professional Development

18 Qs

SciVis I Unit 6 A

SciVis I Unit 6 A

9th - 12th Grade

16 Qs

theory of demand and elasticity of demand

theory of demand and elasticity of demand

Assessment

Quiz

Arts

11th Grade

Medium

Created by

priyanka malik

Used 1K+ times

FREE Resource

20 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

If the price on a product goes up the quantity demanded will go down. This follows the economic theory of:
Law of Demand
elasticity
income effect
None of the above

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The formula for calculating elasticity of demand is:
The % change in price over the % change in quantity demanded
The % change in quantity demanded over the % change in price
The change in price over the change in quantity demaned
The change in quantity demanded over the change in price

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

which of the following is not a determinant of demand elasticity?
availability of substitutes
share of consumer's budget spend on good
duration of adjustment period
government spending

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The following is a factor that will not cause the demand curve to shift:
Advertising
Population
Price
Consumer expectations

5.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

Consuming more of one good because of a change in price of another good is known as the 
income effect
substitution effect
elasticity effect
demand effect

6.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

Which factor causes the demand curve to shift in the following situation: Bobby graduated from college and got a good job, so he decided to buy a new 2016 Passat.
income
population
consumer tastes & advertising
prices of related goods

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What does it mean?

Ed = 0

Perfectly inelastic demand

Inelastic demand

Unitarily elastic demand

Elastic demand

Perfectly elastic demand

Create a free account and access millions of resources

Create resources
Host any resource
Get auto-graded reports
or continue with
Microsoft
Apple
Others
By signing up, you agree to our Terms of Service & Privacy Policy
Already have an account?