Demand, supply, elasticity

Question 1 of 10

Goods demanded together, such as bread and butter, have

Question 2 of 10

If price rises by 10% and quantity demanded falls by 20%, price elasticity of demand is

Question 3 of 10

Derived demand means that the demand for a factor depends on

Question 4 of 10

A Giffen good is one for which

Question 5 of 10

The price of a good rises from GH₵ 10 to GH₵ 12 and quantity demanded falls from 100 to 80 units. Find the price elasticity of demand.

Question 6 of 10

An increase in supply, with demand unchanged, leads to

Question 7 of 10

An inferior good is one whose demand

Question 8 of 10

If demand is perfectly inelastic, the demand curve is

Question 9 of 10

When the price of a good rises, the quantity demanded usually

Question 10 of 10

A maximum price fixed by the government below the equilibrium price leads to