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PED and PES Quiz

Authored by Seunghu Moon

Financial Education

9th - 12th Grade

Used 9+ times

PED and PES Quiz
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22 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Formula for PED?

PED = (% Change in Quantity Demanded) / (% Change in Price)

PED = (% Change in Price) x (% Change in Quantity Demanded)

PED = (Change in Price) / (Change in Quantity Demanded)

PED = (Change in Quantity Demanded) / (Change in Price Change)

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Formula for PES?

PES = (Change in Price) / (Change in Quantity Supplied)

PES = (% Change in Price) / (% Change in Quantity Supplied)

PES = (% Change in Quantity Supplied) / (% Change in Price)

PES = (Change in Quantity Supplied) / (Change in Price)

3.

FILL IN THE BLANK QUESTION

1 min • 1 pt

If the value of PED is less than 1, demand is said to be

4.

FILL IN THE BLANK QUESTION

1 min • 1 pt

If the value of PED is greater than 1, demand is said to be

5.

FILL IN THE BLANK QUESTION

1 min • 1 pt

If PED is exactly -1, demand is said to have

6.

FILL IN THE BLANK QUESTION

1 min • 1 pt

If PED is equal to infinity, demand is said to be

7.

FILL IN THE BLANK QUESTION

1 min • 1 pt

If the value of PED is zero, demand is said to be

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