Price Elasticity of Demand (PED) is...

Cambridge A Level Chapter 21: Marketing Analysis

Quiz
•
Business
•
12th Grade
•
Hard
Christhopi Sinulingga
Used 2+ times
FREE Resource
10 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A measure of the responsiveness of price for a product following change in its demand
A measure of the responsiveness of demand for a product following change in its price
A measure of the responsiveness of demand for a product following change in its elasticity
A measure of the responsiveness of demand for a product following change in its market
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
If the value of PED is between 1 and infinity, the classification is...
Perfectly inelastic demand
Perfectly elastic demand
Inlastic demand
Elastic demand
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The following are factors that determine price elasticity of demand, except...
Consumer loyalty
How necessary the product is
Number of close competitors
Popularity of the product
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A product that experiences an increase in demand when consumer incomes fall is a description of the term...
Inferior product
Inferior good
Superior product
Superior good
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The following are the process of new product development, except...
Concept development and testing
Business analysis
Promotion planning
Test marketing
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Qualitative sales forecasting methods are, except...
Delphi method
Jury of experts
Extrapolation
Sales force composite
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
By the moving averages method, there are factors that we can identify that are expected to influence future sales, they are...
Trend, seasonal fluctuations, finance fluctuations
Trend, seasonal fluctuations, cyclical fluctuations
Finance fluctuations, seasonal fluctuations, cyclical fluctuations
Trend, cyclical fluctuations, finance fluctuations
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