
Demand , elasticity
Quiz
•
Business
•
University
•
Practice Problem
•
Medium
Srilakshmi Ramu
Used 2+ times
FREE Resource
Enhance your content in a minute
10 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
What does the law of demand state?
Demand increases as price increases.
Demand decreases as price increases.
Demand is constant regardless of price changes.
Demand and price are unrelated.
2.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
If the price of a necessity like bread increases significantly, the elasticity of demand for bread is likely to be:
Elastic
Inelastic
Unitary elastic
Perfectly elastic
3.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
If the price of a luxury car increases by 10%, and the quantity demanded decreases by 20%, what is the price elasticity of demand?
0.5
1
2
5
4.
MULTIPLE CHOICE QUESTION
10 sec • 1 pt
Inelastic demand is characterized by a price elasticity of:
Less than 1
Exactly 1
Greater than 1
0
5.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
Elasticity of demand measures:
How much consumers desire a product.
How sensitive quantity demanded is to changes in price.
The total demand for a product in the market.
The price at which demand becomes perfectly elastic.
6.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
Which of the following goods is likely to have the most elastic demand?
Prescription medication.
Bottled water during a heatwave.
Generic brand cereal.
Luxury designer clothing.
7.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
When the price of a product decreases and the quantity demanded increases, it is an example of:
Elastic demand.
Inelastic demand.
Unitary elastic demand.
Perfectly inelastic demand.
Access all questions and much more by creating a free account
Create resources
Host any resource
Get auto-graded reports

Continue with Google

Continue with Email

Continue with Classlink

Continue with Clever
or continue with

Microsoft
%20(1).png)
Apple
Others
Already have an account?
Similar Resources on Wayground
10 questions
ADDITIONAL STOCKHOLDERS EQUITY
Quiz
•
University
10 questions
Quiz Capital Market
Quiz
•
University
15 questions
DAFTAR PERTANYAAN QUIZIZZ
Quiz
•
University
10 questions
MKT571_Pop Quiz_CH03
Quiz
•
University
10 questions
Time management
Quiz
•
University
10 questions
Ch 3 OSCM 306 Review
Quiz
•
University
10 questions
PMK_Ch_1_Importance of Marketing
Quiz
•
University
10 questions
POP Quiz 5
Quiz
•
University
Popular Resources on Wayground
15 questions
Fractions on a Number Line
Quiz
•
3rd Grade
20 questions
Equivalent Fractions
Quiz
•
3rd Grade
25 questions
Multiplication Facts
Quiz
•
5th Grade
54 questions
Analyzing Line Graphs & Tables
Quiz
•
4th Grade
22 questions
fractions
Quiz
•
3rd Grade
20 questions
Main Idea and Details
Quiz
•
5th Grade
20 questions
Context Clues
Quiz
•
6th Grade
15 questions
Equivalent Fractions
Quiz
•
4th Grade
Discover more resources for Business
7 questions
How James Brown Invented Funk
Interactive video
•
10th Grade - University
5 questions
Helping Build the Internet: Valerie Thomas | Great Minds
Interactive video
•
11th Grade - University
12 questions
IREAD Week 4 - Review
Quiz
•
3rd Grade - University
23 questions
Subject Verb Agreement
Quiz
•
9th Grade - University
7 questions
Renewable and Nonrenewable Resources
Interactive video
•
4th Grade - University
19 questions
Review2-TEACHER
Quiz
•
University
15 questions
Pre2_STUDENT
Quiz
•
University
20 questions
Ch. 7 Quadrilateral Quiz Review
Quiz
•
KG - University
