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Froggy Jumps
Froggy Jumps

Elasticity Essentials Quiz

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Elasticity Essentials Quiz

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Test your elasticity knowledge.

Created by

Montex
Montex
Canada

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Elasticity Essentials Quiz
 

Froggy Jumps

Elasticity Essentials QuizOnline version

Test your elasticity knowledge.

by Montex
1

What does YED measure in economics?

2

What type of good has positive income elasticity when demand rises with income?

3

Which elasticity uses the formula: percentage change in quantity demanded divided by percentage change in price?

4

If XED is positive and large, the goods are likely?

5

What does PES measure?

6

Which scenario indicates unitary elasticity in PED terms?

7

Which factor affects elasticity of demand by making consumers switch over time?

8

If a good is a luxury, its YED is typically:

9

Which term describes demand that changes very little when price changes?

10

What does XED tell us about two goods when its value is negative?

 
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