Factors of PED change
Assessment
•
Cross Swiftfoot
•
Social Studies
•
11th Grade
•
1 plays
•
Easy
Student preview
9 questions
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1.
MULTIPLE CHOICE
30 sec • 1 pt
Demand will be price________ if there are only a few substitutes products.
2.
MULTIPLE CHOICE
30 sec • 1 pt
Demand will be price________ if there are a lot of substitutes products.
3.
MULTIPLE CHOICE
30 sec • 1 pt
The longer the period of the shortage, the longer time for the consumer to find the _________
4.
MULTIPLE CHOICE
30 sec • 1 pt
The cheaper the product, the more likely it be to be price________.
5.
MULTIPLE CHOICE
30 sec • 1 pt
The more expensive the product, the more likely it be to be price________.
6.
OPEN ENDED
3 mins • 2 pts
Mention examples of 3 products that have only a few substitute products.
7.
OPEN ENDED
3 mins • 2 pts
Mention examples of 3 pricy products that would likely to be price inelastic.
8.
MULTIPLE CHOICE
30 sec • 1 pt
What does the perfectly inelastic demand curve tell us?
9.
MULTIPLE CHOICE
30 sec • 1 pt
Infinitely price elastic means ....
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