1.2.3
Price Elasticity of demand(PED)
1. What are the 5 factors of elasticity of demand?
Back
Card 7
Front
1.2.3
Income elasticity of demand
1. What does income elasticity of demand(YED) measure?
2. What is the is the formula for YED?
Back
Card 8
Front
1.2.3
Income elasticity of demand
1. What type of good has an elasticity of 0 to 1?
2. What type of good has an elasticity greater than 1?
3. What type of good has a negative elasticity?
Back
Card 9
Front
1.2.3
Income elasticity of demand
1. What is a Inferior good?
2. What is a normal good?
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Card 10
Front
1.2.3
Cross price elasticity of demand
1. What does cross price elasticity(XED) of demand measure?
2. what is the XED formula?
3. what does it mean if XED is 0?
Back
Card 11
Front
1.2.3
Cross price elasticity of demand
1. What are substitutes goods XED?
2. What are complementary goods XED?
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Card 12
Front
1.2.3
What are the significance of elasticities of Demand
1. Why is PED useful?
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Card 13
Front
1.2.3
What are the significance of elasticities of Demand
1. Why is YED useful?
2. Why is XED useful?
Back
Card 14
Front
1.2.4
Supply
1. What is supply?
2. When will suppliers increase their supply onto the market?
3. What is the relationship of supply?
4. what is shown along the supply curve?
Back
Card 15
Front
1.2.4
Supply
1. What are the factors of supply which shift the supply curve?
