Search Header Logo

XED quiz

Authored by Michael Smith

Other

10th Grade - University

Used 14+ times

XED quiz
AI

AI Actions

Add similar questions

Adjust reading levels

Convert to real-world scenario

Translate activity

More...

    Content View

    Student View

13 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

Which of the following best describes what cross elasticity of demand measures?

The responsiveness of demand for a good after a change in the price of another good

How aware producers are of a change in price

How responsive buyers are to a change in the price of a good

The change in demand for a good after a change in income

2.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

What is the formula for calculating Cross Elasticity of Demand (XED)?

% change in quantity demanded of good X / % change in price of good Y

% change in price / % change in quantity demanded

% change in quantity demanded / % change in price

% change in quantity demanded / % change in income

3.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

The price of Pepsi increases from 50p to 60p per can at a supermarket, causing demand for Coca Cola to rise from 1m to 2m cans per year. Calculate the XED:

2

3

4

5

4.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

The price of cinema tickets increases from £5.00 to £7.50, and the demand for popcorn decreases from 1,000 tubs to 700. Calculate the XED:

-0.4

-0.5

-0.6

-0.7

5.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

An increase in the price of tea by 10% sees the quantity demanded for coffee increase by 2%. Calculate the XED:

0.1

0.2

1

2

6.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

The price of peanut butter increases from £3 to £3.50 per jar, causing the quantity of jam demanded to fall from 30 jars to 24 jars. Calculate the XED:

-1

-1.2

-1.4

-1.6

7.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

A butcher sells pork and lamb only. When the price of pork rises by 15% the demand for lamb increases by 10%. Calculate the XED:

0.27

0.47

0.67

0.87

Access all questions and much more by creating a free account

Create resources

Host any resource

Get auto-graded reports

Google

Continue with Google

Email

Continue with Email

Classlink

Continue with Classlink

Clever

Continue with Clever

or continue with

Microsoft

Microsoft

Apple

Apple

Others

Others

Already have an account?