G10 T1 Price Elasticity Demand
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Slide 1 - Tekstslide
Slide 2 - Tekstslide
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Slide 15 - Tekstslide
The Demand curve shows that low price means lower demand.
A
true
B
false
C
-
D
-
Slide 16 - Quizvraag
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 - Quizvraag
Slide 18 - Tekstslide
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 - Quizvraag
Slide 20 - Tekstslide
Inelastic means customer demand doesn't react a lot to price changes.
A
true
B
false
C
-
D
-
Slide 21 - Quizvraag
A value equal to 1 means the product is...
A
elastic
B
inelastic
C
unitary elastic
Slide 22 - Quizvraag
A value less than 1 means the product is...
A
elastic
B
inelastic
C
unitary elastic
Slide 23 - Quizvraag
Slide 24 - Tekstslide
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 - Quizvraag
According to the PED calculation, Alia's products are...
A
elastic
B
inelastic
C
unitary elastic
