The price elasticity of demand measures the:
Price Elasticity of Demand Intro

Quiz
•
Social Studies
•
University
•
Easy
Bekah Selby
Used 2+ times
FREE Resource
5 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Change in price of a product.
Responsiveness of quantity demanded to price changes.
Change in quantity supplied of a product.
Market share of a product.
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A price elasticity of demand greater than 1 (in absolute value) indicates that demand is:
Inelastic
Elastic
Unitary Elastic
Constant
3.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
If a 10% decrease in price leads to a 20% increase in quantity demanded, the price elasticity of demand is:
-0.5
-1.5
-2
-10
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A price elasticity of demand equal to -1 indicates that demand is:
Inelastic
Unitary Elastic
Elastic
Constant
5.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Which scenario is an example of inelastic demand?
A 20% increase in the price of a luxury car leads to a 25% decrease in quantity demanded.
A 10% increase in the price of water leads to a 5% decrease in quantity demanded.
A 30% decrease in the price of smartphones leads to a 40% increase in quantity demanded.
A 5% increase in the price of movie tickets leads to a 15% decrease in quantity demanded.
Similar Resources on Quizizz
10 questions
Microeconomics:Demand and Supply

Quiz
•
University
10 questions
Supply and Demand Vocabulary

Quiz
•
11th Grade - University
10 questions
Market Equilibrium

Quiz
•
University
10 questions
Monopoly and Monopolistic Competition

Quiz
•
University
7 questions
QUIZ ON ECONOMICS

Quiz
•
University
10 questions
Introductory Microeconomics

Quiz
•
University
10 questions
demand

Quiz
•
11th Grade - University
6 questions
Topic 2 - Part 1 - 2129

Quiz
•
University
Popular Resources on Quizizz
15 questions
Multiplication Facts

Quiz
•
4th Grade
20 questions
Math Review - Grade 6

Quiz
•
6th Grade
20 questions
math review

Quiz
•
4th Grade
5 questions
capitalization in sentences

Quiz
•
5th - 8th Grade
10 questions
Juneteenth History and Significance

Interactive video
•
5th - 8th Grade
15 questions
Adding and Subtracting Fractions

Quiz
•
5th Grade
10 questions
R2H Day One Internship Expectation Review Guidelines

Quiz
•
Professional Development
12 questions
Dividing Fractions

Quiz
•
6th Grade