chap 5

chap 5

1st Grade

16 Qs

quiz-placeholder

Similar activities

Unit 10 (Revision ) / Force_sound

Unit 10 (Revision ) / Force_sound

1st Grade

15 Qs

Learning Beyond Quiz Grade 1 December

Learning Beyond Quiz Grade 1 December

1st Grade

20 Qs

math quiz

math quiz

1st Grade

16 Qs

Pre-Test

Pre-Test

1st Grade

20 Qs

SPEAKING

SPEAKING

1st - 5th Grade

16 Qs

economics

economics

1st Grade

15 Qs

MLS, Hangout 1, Unit 2 Test

MLS, Hangout 1, Unit 2 Test

1st Grade

16 Qs

Learning Spanish: Greetings, Farewells, and Useful Phrases

Learning Spanish: Greetings, Farewells, and Useful Phrases

1st - 5th Grade

21 Qs

chap 5

chap 5

Assessment

Quiz

Others

1st Grade

Medium

Created by

Tấn Tuấn Lương Lê

Used 4+ times

FREE Resource

16 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The price elasticity of demand measures

buyers’ responsiveness to a change in the price of a good

the extent to which demand increases as additional buyers enter the market

how much more of a good consumers will demand when incomes rise.

the movement along a supply curve when there is a change in demand.

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The price elasticity of demand for eggs

will be lower if there is a new invention that is a close substitute for eggs

is computed as the percentage change in quantity demanded of eggs divided by the percentage change in price of eggs

will be higher if consumers consider eggs to be a necessity.

All of the above are correct

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

For a particular good, a 2 percent increase in price causes a 12 percent decrease in quantity demanded. Which of the following statements is most likely applicable to this good?

There are no close substitutes for this good.

The good is a luxury

The market for the good is broadly defined

The relevant time horizon is short

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

For a particular good, a 5 percent increase in price causes a 15 percent decrease in quantity demanded. Which of the following statements is most likely applicable to this good?

There are many substitutes for this good

The good is a necessity

The market for the good is broadly defined

The relevant time horizon is short

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

For a particular good, a 10 percent increase in price causes a 5 percent decrease in quantity demanded. Which of the following statements is most likely applicable to this good?

There are many close substitutes for this good.

The good is a necessity

The market for the good is narrowly defined

The relevant time horizon is long

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

For a particular good, a 10 percent increase in price causes a 15 percent decrease in quantity demanded. Which of the following statements is most likely applicable to this good?

There are no close substitutes for this good.

The good is a necessity

The market for the good is broadly defined

The relevant time horizon is long

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

For a particular good, a 5 percent increase in price causes a 2 percent decrease in quantity demanded. Which of the following statements is most likely applicable to this good?

There are many close substitutes for this good.

The good is a luxury

The market for the good is broadly defined

The relevant time horizon is long

Create a free account and access millions of resources

Create resources
Host any resource
Get auto-graded reports
or continue with
Microsoft
Apple
Others
By signing up, you agree to our Terms of Service & Privacy Policy
Already have an account?