Chemistru Unit 3

1. What is price elasticity of supply?

  • measures the relationship between supply and demand and equilibrium
  • price elasticity of supply (PES) measures the relationship between change in quantity supplied and change in price
  • measures the relatioship between Prince harry and megan markle
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Other questions in this quiz

2. What is equilibrium?

  • The state where economic forces such as supply and demand are equal
  • where economic forces such as needs and wants are equal.
  • where the definition of Economics is Equal to business.

3. What is a need?

  • something that is wanted
  • some random Econ Topic
  • A good or servise that is required
  • something that isnt needed

4. What is a want?

  • A diamond necklace
  • A good or service that we desire or wish for
  • something that is needed
  • Yet another Random Econ topic

5. What are the Economic groups?

  • taxis, trains and planes
  • consumer, producer and government
  • builder, factory, lorry drivers
  • core, ground and sky

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