Elasticity of Demand Quiz
Quiz
•
Fun
•
Professional Development
•
Practice Problem
•
Medium
Christine Schermerhorn
Used 2+ times
FREE Resource
Enhance your content in a minute
18 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What does a higher elasticity of demand indicate about consumer response to price changes?
Consumers are less responsive to price changes
Consumers are more responsive to price changes
No impact on consumer response to price changes
Consumers are unpredictable
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
If the elasticity coefficient of demand is greater than 1, how is demand affected?
Perfectly inelastic demand
Unit elastic demand
Elastic demand
Inelastic demand
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What does an elasticity coefficient of exactly 1.0 indicate about demand?
Demand is unit elastic
Demand is perfectly elastic
Demand is inelastic
Demand is perfectly inelastic
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which range of elasticity coefficient indicates inelastic demand?
Between 0 and 1.0
Greater than 1
Exactly 1
Less than 0
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What happens to the elasticity of demand when there are many substitutes for a product?
It becomes elastic
It becomes inelastic
It remains unchanged
It cannot be determined
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Is the demand for Good X elastic or inelastic between the price range of $9.00 and $10.00?
Elastic
Inelastic
Unitary elastic
Perfectly elastic
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What does it mean for a good to be elastic?
The quantity demanded changes significantly with a price change
The quantity demanded does not change significantly with a price change
The price does not affect the quantity demanded
The good has many substitutes
Create a free account and access millions of resources
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
13 questions
Oddbods
Quiz
•
Professional Development
20 questions
#Starbucks Drinks
Quiz
•
KG - Professional Dev...
13 questions
Kuis CS FORUM 2023
Quiz
•
Professional Development
18 questions
CATS
Quiz
•
Professional Development
17 questions
Books
Quiz
•
KG - Professional Dev...
20 questions
julie and the phantoms
Quiz
•
KG - Professional Dev...
14 questions
What type of food is it?
Quiz
•
KG - Professional Dev...
17 questions
more gymnastic
Quiz
•
KG - Professional Dev...
Popular Resources on Wayground
10 questions
Honoring the Significance of Veterans Day
Interactive video
•
6th - 10th Grade
9 questions
FOREST Community of Caring
Lesson
•
1st - 5th Grade
10 questions
Exploring Veterans Day: Facts and Celebrations for Kids
Interactive video
•
6th - 10th Grade
19 questions
Veterans Day
Quiz
•
5th Grade
14 questions
General Technology Use Quiz
Quiz
•
8th Grade
25 questions
Multiplication Facts
Quiz
•
5th Grade
15 questions
Circuits, Light Energy, and Forces
Quiz
•
5th Grade
19 questions
Thanksgiving Trivia
Quiz
•
6th Grade
