
Review Quiz in PrinEco
Quiz
•
Education
•
2nd Grade
•
Practice Problem
•
Medium
May Ferry
Used 7+ times
FREE Resource
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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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