4174163
Descripción
Test por mateogalvis97, actualizado hace más de 1 año
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Creado por mateogalvis97
hace casi 9 años
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Pregunta 1
Pregunta
Elasticity refers to the responsiveness of demand due to
Respuesta
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Cost
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Price
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Motivation
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Income
Pregunta 2
Pregunta
Products that are addictive (cigarettes, alcohol, cocaine etc.) tend to be
Respuesta
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Inelastic, because people are not willing to pay more for a product that has no real benefit in their life.
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Elastic, because people who are addictive will always want the product, regardless of the price.
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Inelastic, because people who are addictive will always want the product, regardless of the price.
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Elastic, because people are not willing to pay more for a product that has no real benefit in their life.
Pregunta 3
Pregunta
Business air travel is more inelastic than leisure air travel because
Respuesta
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People who travel for business usually travel in first class so it's more expensive.
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People who travel for leisure will have other options other than traveling for vacation.
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There is more people traveling for business than people traveling for leisure.
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There is more people traveling for leisure than people traveling for business.
Pregunta 4
Pregunta
The demand curve is upward sloping.
Respuesta
- True
- False
Pregunta 5
Pregunta
Lipton Ice Tea and Fuze Tea are weak substitutes.
Respuesta
- True
- False
Pregunta 6
Pregunta
If the price for iPhones suddenly rises drastically, what is expected to happen to the demand for the Samsung Galaxy?
Respuesta
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It will increase
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It will stay the same
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It will decrease
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It will decrease and then increase in the long run.
Pregunta 7
Pregunta
Which of the following is an example of a complementary good of pasta?
Respuesta
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Coca-Cola
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Eggs
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Nuts
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Parmesan cheese
Pregunta 8
Pregunta
Product A has unitary elasticity. If the price for Product A goes from $20 to $100, the demand will be
Respuesta
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5,7x lower
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5,4x higher
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5,3x lower
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None of the above
Pregunta 9
Pregunta
Cellphones and SIM cards are expected to have joint demand.
Respuesta
- True
- False
Pregunta 10
Pregunta
Motivation is one of the factors affecting PES.
Respuesta
- True
- False
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