APPLIED ECONOMICS
Authored by ALYSSA BIAGTAS
Education
9th - 12th Grade
Used 1+ times
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5 questions
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1.
MULTIPLE CHOICE QUESTION
5 sec • 20 pts
A change in price creates an equal change in quantity demanded.
Perfectly Elastic Demand
Unitary Demand
2.
MULTIPLE CHOICE QUESTION
5 sec • 1 pt
Es = ∞
Unitary Supply
Inelastic Supply
Elastic Supply
Perfectly Elastic Supply
3.
MULTIPLE CHOICE QUESTION
10 sec • 20 pts
FORMULA OF PRICE PRICE ELASTICITY OF SUPPLY
4.
MULTIPLE CHOICE QUESTION
10 sec • 20 pts
Percent change in demand is less than percentage change in price.
Perfectly Inelastic demand
Inelastic demand
5.
MULTIPLE CHOICE QUESTION
10 sec • 20 pts
What is Elasticity
Is an assessment of how much buyers and sellers act in response to changes in market conditions.
Is an assessment of how much buyers and sellers change the response in market conditions.
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