Quiz: Factors Affecting Elasticities of Demand
AQA A level economics 7136 specification
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Building on what you've learned about elasticities of demand, let's test your understanding of the factors that influence them!
Which of the following could make demand more elastic?
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Which factors influence price elasticity of demand? (Select all that apply)
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A good is likely to have {{blank0}} demand if it is a luxury and consumers have {{blank1}} time to find substitutes.
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Match the items on the left with their correct pairs on the right
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A product has a price elasticity of demand of -2. If price increases by 10%, what is the expected percentage change in quantity demanded?
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If a good is habit-forming, how would that affect its price elasticity of demand?
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Which goods are likely to have inelastic demand? (Select all that apply)
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Match the items on the left with their correct pairs on the right
How does the proportion of income spent on a good affect its elasticity?
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