A measure of the way quantity supplied reacts to a change in price.
Demand, Supply, and Prices Quiz 2

Quiz
•
Business
•
12th Grade
•
Medium
Shanda Misiolek
Used 25+ times
FREE Resource
14 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
elasticity of demand
inelastic
elastic
unitary elastic
2.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
Describes demand that is not very sensitive to price changes.
elasticity of demand
inelastic
elastic
unitary elastic
3.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
Describes demand that is very sensitive to a change in price.
elasticity of demand
inelastic
elastic
unitary elastic
4.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
Describes demand whose elasticity is exactly equal to one.
elasticity of demand
inelastic
elastic
unitary elastic
5.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
The total amount of money a company received by selling goods or services.
total revenue
supply
law of supply
quantity supplied
6.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
The amount of goods or a service that is available.
total revenue
supply
law of supply
quantity supplied
7.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
Producers offer more of a good or service as its price increases and less as its price fall.
total revenue
supply
law of supply
quantity supplied
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