UNIT 02 / SUPPLY AND DEMAND

Price Elasticity of Demand2.3 test

100 questions with explanations after each answer.

Practice mode

QUESTION 01 / 100Easy

Which of the following best describes price elasticity of demand?

Select one answerAThe responsiveness of price to a change in the quantity demandedBThe absolute change in quantity demanded after a price changeCThe change in total expenditure caused by a fixed quantity changeDThe slope of a demand curve measured in dollars per unitEQuantity demanded’s responsiveness to own price

Submit your answer to see the explanation.

1 of 100

A wrong answer is a useful starting point. Read the explanation, then keep going.

Question 1