11th Grade Elasticity Concepts Quizzes, Questions & Answers

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This qiuz is dessigned to help students understand the basic concept of elasticity and cross elasticity which are part of the concept of micro economics. We were given this assignment for our economics class, taught by Mr. A.

Questions: 18 | Attempts: 217 | Last updated: Mar 20, 2025

Sample Question 1
Why did the chicken cross the road?

Because he wanted to.

To get to the other side.

Chuck norris forced him to.

Sample Question 2
What is the formula for income elasticity?

%change in y for good one / %change in p for good two

%change in p for good one / %change in y for good two

%change in demand for good one/ %change in price for good two

%change in demand for good two/ %change in y for good one.

Sample Question 3
If the XED for a product is positive, then the product it is being compared two is:

A Substitute

Unrelated

A Complement

Not as good

11th Grade Elasticity Concepts Quizzes, Questions & Answers

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