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Price elasticity on demand

Authored by Ekaterina Reyngold

Business

10th Grade

Used 38+ times

Price elasticity on demand
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11 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

Price Elasticity on Demand shows

how demand changes if the price changes

how price changes if demand changes

how prices change

2.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

Demand is

how much people pay for a product

when customers want to pay this price for a product

when customers try to get discounts

3.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

Substitutes are products that satisfy

different needs and wants

same needs and wants

4.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

Select substitutes

Gucchi bag and Carrefour bag

Pepsi and Cocal Cola

Ferrari and Nissan

5.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

If the price INCREASES, the demand_______.

increases

remains the same

decreases

6.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

If demand is ELASTIC,

it reacts a lot to price changes

it doesn't react to price changes

price change leads to an equal change in demand

7.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

Select a product with ELASTIC demand

petrol

make up

electricity bill

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