Unit Elastic: Definition & Example


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question 1 of 3

Unit elastic pertains to which of the following in business?

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1. In unit elastic, the change in price and quantity demanded is what?

2. With unit elastic, when price increases, what happens to quantity demanded?

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About This Quiz & Worksheet

Unit elasticity is the subject of this worksheet and quiz. The questions will assess what you know about certain areas like what unit elastic refers to and the relationship between price and quantity demanded.

Quiz & Worksheet Goals

Recognize how well you know how to:

  • Determine what happens to quantity demanded when price is increased
  • Understand why unit elastic happens
  • Identify the decrease in demand with regard to a dollar change in price

Skills Practiced

The worksheet and quiz will test your ability to practice the following:

  • Making connections - use understanding of the concept of quantity demanded and how it is connected to price increases
  • Interpreting information - verify that you can read information about why unit elastic occurs and interpret it correctly
  • Knowledge application - use your knowledge to answer questions about unit elasticity

Additional Learning

With the lesson called Unit Elastic: Definition & Example, you will be able to learn more about this subject. The lesson will teach you the following:

  • Analyze a given unit elastic scenario
  • Identify what a unit is
  • Recognize how customers decide where and how to spend their money according to price changes