Price elasticity on demand
Authored by Ekaterina Reyngold
Business
10th Grade
Used 38+ times
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11 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 5 pts
Price Elasticity on Demand shows
how demand changes if the price changes
how price changes if demand changes
how prices change
2.
MULTIPLE CHOICE QUESTION
30 sec • 5 pts
Demand is
how much people pay for a product
when customers want to pay this price for a product
when customers try to get discounts
3.
MULTIPLE CHOICE QUESTION
30 sec • 5 pts
Substitutes are products that satisfy
different needs and wants
same needs and wants
4.
MULTIPLE CHOICE QUESTION
30 sec • 5 pts
Select substitutes
Gucchi bag and Carrefour bag
Pepsi and Cocal Cola
Ferrari and Nissan
5.
MULTIPLE CHOICE QUESTION
30 sec • 5 pts
If the price INCREASES, the demand_______.
increases
remains the same
decreases
6.
MULTIPLE CHOICE QUESTION
30 sec • 5 pts
If demand is ELASTIC,
it reacts a lot to price changes
it doesn't react to price changes
price change leads to an equal change in demand
7.
MULTIPLE CHOICE QUESTION
30 sec • 5 pts
Select a product with ELASTIC demand
petrol
make up
electricity bill
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