Professional Courses
Industry-relevant training in Business, Technology, and Design to help professionals and graduates upskill for real-world careers.
Categories
Interactive Games
Fun, engaging games to boost memory, math fluency, typing speed, and English skills—perfect for learners of all ages.
Typing
Memory
Math
English Adventures
Knowledge
Enroll to start learning
You’ve not yet enrolled in this course. Please enroll for free to listen to audio lessons, classroom podcasts and take practice test.
Practice Questions
Test your understanding with targeted questions related to the topic.
Question 1
Easy
Define price elasticity of demand.
💡 Hint: Think of how consumers react when prices change.
Question 2
Easy
What does it mean if demand is elastic?
💡 Hint: Consider the ratio of quantity change to price change.
Practice 4 more questions and get performance evaluation
Interactive Quizzes
Engage in quick quizzes to reinforce what you've learned and check your comprehension.
Question 1
What is the formula for calculating price elasticity of demand?
💡 Hint: Remember that percentage changes in quantity and price are involved.
Question 2
If a linear demand curve has elasticity of 1, what point does this correspond to?
- True
- False
💡 Hint: Think about where demand meets changes in quantity.
Solve 1 more question and get performance evaluation
Challenge Problems
Push your limits with challenges.
Question 1
Given a linear demand curve q = 30 - 2p, determine the elasticity at p = 5.
💡 Hint: Utilize the slope - recall that elasticity changes with price.
Question 2
If the price of oranges rises from $2 to $3 and the quantity demanded drops from 100 to 80, what is the elasticity of demand?
💡 Hint: Express changes in both quantity and price clearly.
Challenge and get performance evaluation