Price Elasticity of Demand
Authored by fida valiyakath
Business
10th Grade
Used 18+ times
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5 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The Demand Curve shows the relation between price and demand
True
False
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
If the price increases, the demand for the product increases
True
False
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A given percentage change in price leads to a large percentage change in quantity demanded (Greater than 1)
Elastic Demand
Unitary Elastic Demand
Inelastic Demand
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A given percentage change in price leads to an equal percentage change in quantity demanded. (Equal to 1)
Elastic Demand
Unitary Elastic Demand
Inelastic Demand
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A given percentage change in price leads to a small percentage change in quantity demanded. (Less than 1)
Elastic Demand
Unitary Elastic Demand
Inelastic Demand
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