Chapter 4 Demand: Elasticity

Chapter 4 Demand: Elasticity

10th Grade

13 Qs

quiz-placeholder

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Chapter 4 Demand: Elasticity

Chapter 4 Demand: Elasticity

Assessment

Quiz

Social Studies

10th Grade

Practice Problem

Easy

Created by

Jessica Butler

Used 4+ times

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13 questions

Show all answers

1.

FILL IN THE BLANK QUESTION

1 min • 1 pt

Elasticity of Demand - measures the buyers sensitivity to _____ _______

2.

DRAG AND DROP QUESTION

1 min • 1 pt

​ (a)   demand - price changes have little effect on the quantity you buy.

​ (b)   demand - price changes have a significant effect on the quantity you buy.

Inelastic
Elastic

3.

FILL IN THE BLANK QUESTION

1 min • 1 pt

Inelastic demand means that price changes have ______ effect on the quantity you buy.

4.

FILL IN THE BLANK QUESTION

1 min • 1 pt

elastic demand means that price changes have ___________ effect on the quantity you buy

5.

DRAG AND DROP QUESTION

1 min • 1 pt

Are there substitutes available?

No - Prices ​ (a)   affect your demand much (​ (b)   )

yes - price ​ (c)   affect your demand much (​ (d)   )

doesn't
inelastic
does
elastic

6.

CATEGORIZE QUESTION

3 mins • 1 pt

Organize these options by the type of Elasticity it is associated with

Groups:

(a) Inelastic Demand

,

(b) Elastic Demand

price changes have little effect on demand

short-term

a small portion of income is spent on the item

long-term

price changes have significant effect on demand

Luxuries

a large portion of income is spent on the item

Necessities

7.

DRAG AND DROP QUESTION

1 min • 1 pt

Necessities have ​ (a)   Demand

Luxuries have ​ (b)   Demand

inelastic
elastic

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