Elasticity of Supply and Demand Introduction

Elasticity of Supply and Demand Introduction

11th - 12th Grade

13 Qs

quiz-placeholder

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Elasticity of Supply and Demand Introduction

Elasticity of Supply and Demand Introduction

Assessment

Quiz

Social Studies

11th - 12th Grade

Practice Problem

Medium

Created by

Victor Coronado

Used 69+ times

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13 questions

Show all answers

1.

OPEN ENDED QUESTION

30 sec • Ungraded

What does ELASTICTY of supply and demand mean? Define.

Evaluate responses using AI:

OFF

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

If a product is ELASTIC then Total Revenue will be affected up or down by A LOT by a price change.

True

False

What?

I am lost right now.

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

If a product is INELASTIC then a price change will affect demand VERY LITTLE.

True

False

What?`

I am so lost right now.

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

The vertical line on this graph shows what?

Perfect Elasticity

Relative Elasticity

Perfect Inelasticity

Relative Elasticity

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

This graph is a representation of what?

Relative Inelasticity

Perfect Elasticity

Relative Elasticity

Relative Inelasticity

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

This graph is a good example of what?

Unit Elasticity

Relative Elasticity

Perfect Elasticity

Relative Inelasticity

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

The graph here shows what?

Relative Inelasticity

Perfect Elasticity

Relative Elasticity

Unit Elasticity

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