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Social Studies

11th - 12th Grade

Used 21+ times

Elasticity of Demand
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10 questions

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1.

FILL IN THE BLANK QUESTION

10 sec • 1 pt

A desire backed by ability to pay and willingness to pay for a commodity is called.........

2.

FILL IN THE BLANK QUESTION

20 sec • 1 pt

When the price of petrol goes up, demand of car will _____________

3.

FILL IN THE BLANK QUESTION

20 sec • 1 pt

The Law of demand is based on the law of _____________

4.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

If there is no change in demand for commodity ‘X’, even after rise in its price, then its demand is

Perfectly Elastic

Perfectly Inelastic

Unitary elastic

Relatively inelastic

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

If the percentage increase in the quantity demanded of a commodity is less than the percentage fall in its price, then elasticity of demand is

> 1

= 1

< 1

= 0

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The demand for salt is

elastic

inelastic

zero

maximum

7.

OPEN ENDED QUESTION

2 mins • Ungraded

State the law of demand.

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