G10 T1 Price Elasticity Demand
1 / 29
Items in this lesson
Slide 1 - Slide
Slide 2 - Slide
Slide 3 - Slide
Slide 4 - Slide
Slide 5 - Slide
Slide 6 - Slide
Slide 7 - Slide
Slide 8 - Slide
Slide 9 - Slide
Slide 10 - Slide
Slide 11 - Slide
Slide 12 - Slide
Slide 13 - Slide
Slide 14 - Slide
Slide 15 - Slide
The Demand curve shows that low price means lower demand.
A
true
B
false
C
-
D
-
Slide 16 - Quiz
What is Price Elasticity Demand used for?
A
For businesses to check how demand changes when the price is changed
B
For businesses to calculate the effect of demand on high price.
C
-
D
-
Slide 17 - Quiz
Slide 18 - Slide
What are substitutes?
A
Products that satisfy customer demand needs.
B
Products that satisfy the needs and wants as another product.
C
Products that effect demand as other products.
D
-
Slide 19 - Quiz
Slide 20 - Slide
Inelastic means customer demand doesn't react a lot to price changes.
A
true
B
false
C
-
D
-
Slide 21 - Quiz
A value equal to 1 means the product is...
A
elastic
B
inelastic
C
unitary elastic
Slide 22 - Quiz
A value less than 1 means the product is...
A
elastic
B
inelastic
C
unitary elastic
Slide 23 - Quiz
Slide 24 - Slide
Alia sells hand-made soaps in Ajman City Centre.
% change in quantity demand: increased 30%
% change in price: decreased 10%
% change in quantity demand: increased 30%
% change in price: decreased 10%
A
0.3
B
3
C
3.1
Slide 25 - Quiz
According to the PED calculation, Alia's products are...
A
elastic
B
inelastic
C
unitary elastic
