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3rd Grade

12 Qs

quiz-placeholder

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Assessment

Quiz

Business

3rd Grade

Medium

Created by

Dom Sheehan

Used 3+ times

FREE Resource

12 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

what is the formula for elasticity of supply

%change in quantity supplied by % change in ddemand

% change in quantity supplied divided by % change in income

%change in quantity supplied divided by % change in price

% change in price divided by % change in quantity supplied

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

what type of supply is less sensitive/ responsive to a change in price

inelastic

elastic

unit

fraction

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

if there was a delay in supply like a vegetable being out of season what type would it be

elastic

inelastic

unit

fraction

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

who wrote about a pin factory with regards to specialisation

Adam gough

Adam seems

Adam giles

Adam Smith

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

an airline might have to sacrifice having shorter queues in order to increase security is a ?

trade off

opportunity cost

decision

security issue

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

if everyone can enter a market freely with no exit or entry problems what type of market is it

competitive

monopoly

non competitive

anti competitive

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

what comes in between a perfectly competitive market and monopoly?

normal

unplanned

monopolistic

planned

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