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Review Quiz in PrinEco

Authored by May Ferry

Education

2nd Grade

Used 7+ times

Review Quiz in PrinEco
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25 questions

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1.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

How much the quantity demanded of a good responds to a change in the price of that good?

Elasticity

Elasticity of Demand

Elasticity of Supply

None of the choices are correct.

2.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

When the demand curve is flatter, the elasticity of demand will likely be

Elastic

Inelastic

Unit Elasticity

Perfectly Inelastic

3.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

When demand quantity changes even without a change in the price, the elasticity of the demand is

Elastic

Inelastic

Perfectly Elastic

Perfectly Inelastic

4.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

For a price increase, if demand is inelastic, the total revenue will

Decrease

Increase

No change

5.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

When demand is inelastic, a price increase causes revenue to _________.

Fall

Rise

Remain constant

6.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

Which is not an inelastic good?

Necessities

Few Substitutes

Luxury Items

Unique or Coveted Items

7.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

Which of the following is not an elastic good?

Electronics

Soft drinks

Prescription Drugs

Clothing

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