Wayground logo

Free Printable Worksheets

Font size

S
M
L
XL
Worksheets

Demand Elasticity

Total questions: 12

Worksheet time: 16mins

Name
Class
Date
1.

Water has seen an increase in demand 8% this summer, while the price has decreased 12%

a)

1.5 inelastic

b)

1.5 elastic

c)

.67 inelastic

d)

.67 elastic

2.

Wheat has seen a decrease in demand of 5%, while the price has increased 7%

a)

1.4 inelastic

b)

1.4 elastic

c)

.71 inelastic

d)

.71 elastic

3.

Oil has seen a decrease in demand of 9%, while the price has increased 13%

a)

1.44 inelastic

b)

1.44 elastic

c)

.69 inelastic

d)

.69 elastic

4.

Ford Trucks have seen a increase in demand of 27%, while the price has decreased 15%

a)

.56 inelastic

b)

.56 elastic

c)

1.8 inelastic

d)

1.8 elastic

5.

Prada has seen a increase in demand of 70%, while the price has decreased 35%

a)

.5 inelastic

b)

.5 elastic

c)

2 inelastic

d)

2 elastic

6.

Red Wing Shoes has seen a decrease in demand of 40%, while the price has increased 20%

a)

.5 inelastic

b)

.5 elastic

c)

2 inelastic

d)

2 elastic

7.

Electricity has seen a decrease in demand of 14%, while the price has increased 18%

a)

1.3 inelastic

b)

1.3 elastic

c)

.78 inelastic

d)

.78 elastic

8.

The medication known as insulin has seen a decrease in demand of 2%, while the price has increased 10%

a)

5 inelastic

b)

5 elastic

c)

.2 inelastic

d)

.2 elastic

9.

Columbia Sports Wear has seen a decrease in demand of 57%, while the price has increased 24%

a)

.42 inelastic

b)

.42 elastic

c)

2.4 inelastic

d)

2.4 elastic

10.

New York Giants Products have seen a decrease in demand of 90%, while the price has increased 1% (1W ... 7L Season)

a)

.01 inelastic

b)

.01 elastic

c)

90 inelastic

d)

90 elastic

11.

164,000 New York Giants Jerseys were sold in 2006 at a price of $65. 10,000 New York Giants Jerseys were sold in 2018 at a price of $80.

a)

.24 inelastic

b)

.24 elastic

c)

4.1 inelastic

d)

4.1 elastic

12.

In Covington, VA 1,700 frozen turkeys were sold in 2016 at an average price of $17. In Covington, VA 1,500 frozen turkeys were sold in 2017 at an average price of $27.

a)

4.98 inelastic

b)

4.98 elastic

c)

.2 inelastic

d)

.2 elastic