Chapter 4 Lesson 3 Quiz

Chapter 4 Lesson 3 Quiz

10th Grade

11 Qs

quiz-placeholder

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Chapter 4 Lesson 3 Quiz

Chapter 4 Lesson 3 Quiz

Assessment

Quiz

Social Studies

10th Grade

Practice Problem

Hard

Created by

Brent Borcsani

Used 6+ times

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11 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

True or False: Demand elasticity is the extent to which a change in price causes a change in the quantity demanded.

True

False

2.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

True or False: Demand is elastic when a given change in price causes a relatively smaller change in quantity demanded.

True

False

3.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

True or False: Demand is unit elastic when a given change in price causes a proportional change in quantity demanded.

True

False

4.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

True or False: To estimate elasticity, add the direction of a price change to the direction of the change in total revenue, or total expenditures.

True

False

5.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

True or False: The sole determinate of elasticity is the answer to this question: Can the purchase be delayed?

True

False

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Prices for common vegetables tend to be elastic. Why?

because other vegetables are available

because consumers must eat

because vegetables cannot be substituted

because vegetables are inexpensive

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which term refers to a changing price that causes a proportional change in total revenue?

elastic

unit elastic

inelastic

total expenditures

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