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Elasticity of Demand

Authored by Wesley Smith

Social Studies

9th - 12th Grade

Used 134+ times

Elasticity of Demand
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26 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A complement example would be all except

butter and margarine 
peanut-butter and jelly
flashlight and batteries 
cameras and film 

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

When replacing a certain item with with a less costly item is an example of

the substitution effect 
the income effect 
demand elasticity 
complements 

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

An increase in the number of consumers can cause 

the demand curve to shift left
the demand curve to shift right 
the demand curve to shift up
diminishing returns 

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

when consumers have a need for a product that is urgent 

the demand curve is inelastic 
the demand curve is elastic 
the demand curve is complementary 
the demand curve is unit demand 

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A graph showing the quantity demanded 

demand curve
marginal utility 
demand 

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The desire, ability and willingness to buy a product 

Demand 
Supply 
Consume 

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Products that tend to be used together 

complements 
substitutes
goods
needs 

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