Elasticity of Demand - 3

Elasticity of Demand - 3

12th Grade

10 Qs

quiz-placeholder

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Elasticity of Demand - 3

Elasticity of Demand - 3

Assessment

Quiz

Education

12th Grade

Hard

Created by

Sujata Debnath

Used 4+ times

FREE Resource

10 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

Price elasticity of demand on a linear demand curve at the Y-axis is equal to _____.

Zero

one

infinite

Greater than one

2.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

Elasticity resulting from a proportionate change in quantity demanded due to a proportionate change in price.

Perfectly elastic demand

Unitary elastic demand

Relatively elastic demand

Perfectly inelastic demand

3.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

Demand for luxury goods is _________.

inelastic

elastic

infinite inelastic

unitary elastic

4.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

When factors are available in abundance the demand for factors is_______

Relatively elastic

Relatively inelastic

Perfectly inelastic

Unitary elastic

5.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

Those commodities whose demand is relatively inelastic will be taxed more because it will not affect their demand much and vice-versa.

Agree

Disagree

6.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

Find odd word out:

Salt

Milk

Water

Soft drinks

7.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

Change in quantity demanded of one commodity due to a change in the price of other commodity is ___________ elasticity.

Price elasticity

Income elasticity

Cross elasticity

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