Search Header Logo

price elasticity

Authored by Alf Pint

Business

12th Grade

Used 64+ times

price elasticity
AI

AI Actions

Add similar questions

Adjust reading levels

Convert to real-world scenario

Translate activity

More...

    Content View

    Student View

12 questions

Show all answers

1.

MULTIPLE SELECT QUESTION

45 sec • 1 pt

Percentage change =

original / difference

original / difference x 100

difference / original

difference / original x 100

2.

MULTIPLE SELECT QUESTION

45 sec • 1 pt

sales increase from 300 to 345

increase = 45 %

increase = 4.5 %

increase = 1.5 %

increase = 15 %

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Formula for PED =

% change in quantity demanded / % change in price

% change in quantity demanded / % change in price x 100

% change in price / % change in price

% change in price / % change in quantity demanded

4.

FILL IN THE BLANK QUESTION

1 min • 1 pt

A strong brand ...............the price elasticity of demand

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

a 20% price cut causes a 15% increase in quantity demanded (sales)

PED = -1.33

PED = -0.75

PED = -7.5

PED = -1.75

6.

MULTIPLE SELECT QUESTION

45 sec • 1 pt

If more similar products are available (from competitors) then :

demand is likely to be price inelastic

demand is likely to be price elastic

demand is likely to be unaffected

demand is likely to increase

7.

FILL IN THE BLANK QUESTION

1 min • 1 pt

A price cut will increase revenue if demand is price...............

Access all questions and much more by creating a free account

Create resources

Host any resource

Get auto-graded reports

Google

Continue with Google

Email

Continue with Email

Classlink

Continue with Classlink

Clever

Continue with Clever

or continue with

Microsoft

Microsoft

Apple

Apple

Others

Others

Already have an account?