
PED Quiz
Quiz
•
Other
•
12th Grade
•
Practice Problem
•
Hard
Chamandika Madhuhansi
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12 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is PED?
Equal to income
Response to price changes in demand
Impact of factors on ions
Relationship between costs and income
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the formula for PED?
PED = Q / P
PED = ΔQd / ΔP
PED = (ΔQd / ΔP) × (P / Qd)
PED = ΔP / ΔQd
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
If PED value > 1, demand is:
Elastic
Unit elastic
Perfectly elastic
Inelastic
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
If PED = 0, demand is:
Perfectly inelastic
Elastic
Inelastic
Unit elastic
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
If PED value ∞, demand is:
Perfectly elastic
Unit elastic
Inelastic
Perfectly inelastic
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
If PED = 1, demand is:
Inelastic
Perfectly elastic
Unit elastic
Perfectly inelastic
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
If PED value < 1, it is referred to as:
Elastic
Inelastic
Unit elastic
∞ PED
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