PED and PES Quiz
Authored by Chloe Zhang
Social Studies
9th Grade
Used 14+ times
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12 questions
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1.
FILL IN THE BLANK QUESTION
1 min • 1 pt
Define PED [2]
2.
DRAW QUESTION
3 mins • 1 pt
Please draw a diagram of elastic PED [4]
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Will the PED be more elastic or inelastic when there is a large number of substitutes? [1]
A. Elastic
B. Inelastic
C. I don't know
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Will PED be more elastic or inelastic when it takes a small % of their income as expenditure on the good? [1]
A. Elastic
B. Inelastic
C. I don't know
5.
FILL IN THE BLANK QUESTION
1 min • 1 pt
How can a firm increase total revenue when PED is elastic? [2]
6.
FILL IN THE BLANK QUESTION
1 min • 1 pt
Define PES [2]
7.
DRAW QUESTION
3 mins • 1 pt
Please draw a diagram of relatively inelastic PES [4]
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