
Chapter 4 Demand Quiz
Quiz
•
History
•
12th Grade
•
Practice Problem
•
Hard
Kenneth Chambers
FREE Resource
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10 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the total expenditure when the price is 3 and the quantity is 2 in the Elastic Demand graph?
$6
$8
$5
$7
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
In the Inelastic Demand graph, what happens to the expenditure when the price decreases from 3 to 2?
Increases
Decreases
Remains the same
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
In the Unit Elastic Demand graph, what is the expenditure when the price is 3 and the quantity is 2?
$6
$8
$5
$7
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
According to the Determining Elasticity table, what is the movement of both price and expenditure in an Inelastic demand?
Opposite
No Change
Same
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Consumers buy a different good when the price of something gets too high:
6.
MULTIPLE CHOICE QUESTION
2 mins • 1 pt
A change in which factor will be least likely to alter a consumer's ability to pay for a product?
a consumer's income
a consumer's tastes
a change in the price of the product
a fall in the tax on goods and services
7.
FILL IN THE BLANK QUESTION
1 min • 1 pt
Law of Demand states quantity demanded of a good or service varies________ with its price
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