Price Elasticity of Demand Quiz-1

Price elasticity of demand means :

• Change in Demand

• Change in demand due to change in price

• Change in real income

• Change in price

Price elasticity of demand is a :

• Qualitative Statement

• Quantitative Statement

• Both (i) and (ii)

• None of these

Which of the following is a formula for measuring the elasticity of demand ?

• $\frac{Change\ \ in\ \ Demand}{Change\ \ in\ \Pr ice}$

• $\frac{Poportionate\ \ Change\ \ in\ \ Demand}{Poportionate\ \ Change\ \ in\ \ Pice}$

• $\frac{Poportionate\ \ Change\ \ in\ \ \Pr ice}{Poportionate\ \ Change\ \ in\ \ Demand}$

• None of the these

Figure shows :

• High Elastic Demand

• Perfectly Elastic Demand

• Perfectly Inelastic Demand

• Inelastic Demand

With which method, elasticity of demand is measured ?

• Total Expenditure Method

• Point Method

• Arc Method

• All of these

Figure shows :

• High Elastic Demand

• Perfectly Elastic Demand

• Perfectly Inelastic Demand

• . Inelastic Demand

Price elasticity of demand has classified

• Three

• Four

• Five

• Six

Which of the following shows elasticity less than one ?

• Necessity Goods

• Comfort Goods

• Luxuries Goods

• .All of these

For luxury goods the demand is :

• Inelastic

• Elastic

• Highly elastic

• None of these

The price elasticity of demand can range between :

• negative one and one

• zero and infinity

• zero and one

• negative infinity and infinity