1. Elasticity and Its Measurement - Exercise

Exercise - Elasticity and Its Measurement

Very Short Answer Questions                                                             2 Marks

1. Define Price Elasticity of Demand along with its formula.
2. Define cross elasticity of Demand along with its formula.
3. What is meant by negative income elasticity?
4. When is demand perfectly elastic?
5. List the degrees of price elasticity along with its formula.
6. What is income elasticity of demand? [NEB 2072A, 2072 Supp, 2075A, 2075B]
7. Mention the types of income elasticity of demand.
8. Define three conditions of measuring price elasticity of demand under total outlay method.
9. Mention the determinants of price elasticity of demand.
10. Distinguish between income and cross elasticity of demand.
11. Define income and cross elasticity of demand. [HISSAN 2069]
12. What is elasticity of supply? [NEB 2075C]
13. What is law of supply? [NEB 2075 GIE]

Short Answer Questions                                                                      5 Marks

1. Explain the types of elasticity of demand. [NEB 2075 GIE]
2. Explain different types of price elasticity of demand.
3. Explain various degrees of income elasticity of demand.
4. What are the types of cross elasticity of demand?
5. Define price elasticity of demand with its types. [NEB 2075A]
6. Define income elasticity of demand. What are its types?
7. How price elasticity of demand is measured by total expenditure method?
8. How price elasticity of demand is measure by point method?
9. What are the determinants of price elasticity of demand? [NEB 2076C]
10. Describe the factors causing shift in supply curve. [NEB 2075 GIE]
11. Explain the types of elasticity of supply.

Long Answer Questions                                                                      10 Marks

1. Define price elasticity of demand with their types or degrees.[3+7] [NEB 2065, 2066, 2067B]
2. What is elasticity of demand? Describe its determining factors. [3+7] [2073 Supp.]
3. What is price elasticity of demand? How is price elasticity of demand measured under total outlay method ?  [3+7] [NEB 2067, 2068, 2074]
4. Explain the various degrees of income elasticity of demand with the help of table and figure.
5. What is cross elasticity of demand? Discuss the positive and negative cross elasticity of demand? [NEB 2069A]
6. What is price elasticity of demand? Explain perfectly elastic and perfectly inelastic demand with diagrams. [4+6] [NEB 2069B, 2072E]
7. What is price elasticity of demand? How is it measured with point method?