The Elasticity of Demand: Definition, Formula & Examples


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question 1 of 3

Elasticity of demand measures the responsiveness of _____.

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1. Which of the following is the criteria for using the Arc Elasticity of Demand?

2. For most goods, the elasticity of demand is always _____

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About This Quiz & Worksheet

By using these assessments, you can strengthen your understanding of the elasticity of demand formula. Quiz questions include topics like when a good is considered inelastic.

Quiz & Worksheet Goals

You can use these assessments to test:

  • What elasticity of demand measures
  • When to use arc elasticity of demand
  • The characteristics of the elasticity of demand

Skills practiced

A few skills these assessments let you practice are:

  • Problem solving - use acquired knowledge to solve elasticity of demand practice problems
  • Interpreting information - verify that you can read information regarding the elasticity of demand formula and interpret it correctly
  • Knowledge application - use your knowledge to answer questions about the elasticity of demand formula

Additional Learning

If you're interested in learning more about this important concept in economics, please read over the lesson titled The Elasticity of Demand: Definition, Formula & Examples. Here are a few objectives this lesson will cover:

  • Define elasticity of demand
  • Understand methods for calculating the elasticity of demand
  • Review examples that involve calculating the elasticity of demand