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Elasticity Quiz Challenge

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Elasticity Quiz Challenge

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Test your knowledge on the elasticity of demand and supply concepts!

Created by

Anagrey 03
Anagrey 03
Malaysia

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Elasticity Quiz Challenge
 

Elasticity Quiz ChallengeOnline version

Test your knowledge on the elasticity of demand and supply concepts!

by Anagrey 03
1

What does price elasticity of demand measure?

2

What is the formula for calculating price elasticity of demand?

3

If demand is perfectly elastic, what does this imply?

4

What does a price elasticity of demand greater than 1 indicate?

5

What is the main factor affecting the elasticity of supply?

6

What does a negative price elasticity of supply indicate?

7

What is unitary elasticity?

8

Which of the following goods is likely to have inelastic demand?

9

What effect does an increase in the price of a substitute good have on demand?

10

What is cross-price elasticity of demand?

 
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