Post test module 4a
Choose the letter of the correct answer. Write your answer on the space provided before each number.
_______ 1. The degree of change in demand or supply due to the change in its determinants a. Inelastic
b. Elasticity c. Cross elasticity d. Price elasticity
_______ 2. The main determinants of supply and demand a. Technology b. Income c. Price d. Quantity
_______ 3. The elasticity coefficient of 0.7 means a. Elastic b. Inelastic c. Perfectly elastic d. Perfectly
inelastic
_______ 4. If the computed price elasticity is more than 1. What does it mean? a. Elastic b. Unitary c.
Perfectly elastic d. Perfectly inelastic
_______ 5. The elasticity is said to be_______ if the coefficient is 1. a. Elastic b. Unitary c. Perfectly
elastic d. Perfectly inelastic
_______ 6. The demand elasticity can be measured by the following except: a. Income elasticity b. Price
elasticity c. Product elasticity d. Cross elasticity
_______ 7. The graph show a ________________ supply curve.
a. Elastic b. Perfectly elastic c. Inelastic d. Perfectly inelastic.
_______ 8. Which of the following shows an elastic demand curve?
Post test module 4b
Choose the letter of the correct answer. Write your answer on the space provided before each number.
_______ 4. If the computed price elasticity is more than 1. What does it mean? a. Elastic b. Unitary c.
Perfectly elastic d. Perfectly inelastic
_______ 5. The elasticity is said to be _______ if the coefficient is 1. a. Elastic b. Unitary c. Perfectly
elastic d. Perfectly inelastic
_______ 6. The demand elasticity can be measured by the following except: a. Income elasticity b. Price
elasticity c. Product elasticity d. Cross elasticity
_______ 7. The graph show a ________________ supply curve.
_______ 1. The degree of change in demand or supply due to the change in its determinants a. Inelastic
b. Elasticity c. Cross elasticity d. Price elasticity
_______ 2. The main determinants of supply and demand a. Technology b. Income c. Price d. Quantity
_______ 3. The elasticity coefficient of 0.7 means a. Elastic b. Inelastic c. Perfectly elastic d. Perfectly
inelastic
a. Elastic b. Perfectly elastic c. Inelastic d. Perfectly inelastic.
_______ 8. Which of the following shows an elastic demand curve?

_______ 9. When there is a greater change in the demand for banana because of the change
in price of avocado. The demand for banana is said to be:
a. Unitary b. Elastic c. Inelastic d. None of the above
_______ 10. Which of the following statement is true? I. Change in income of an employee
may not affect his demand for some product. II. When there is a change in price, there is
always a change in demand. III. The demand is not affected by the change in price if the
demand for a certain product is inelastic.
a. I and II b. 1 and III c. II and III d. All of the above
_______ 11. The original price of product X is ₱20.00 before an increase of ₱5.00. Because
of this, the demand for the product decrease from 50 units to 40 units. The price elasticity
coefficient of the product X is:
a. 0.75 b. 1.00 c. 0.80 d. 0.08
_______ 12. Refer to the problem in number 11. The price elasticity of product X is: a. Elastic
b. Inelastic c. Unitary d. Perfectly inelastic
_______ 13. Which of the following is the formula for price elasticity? I. Ep = P2 -P1/ P1 Q2 –
Q1 / Q1 II. Ep = Q2 -Q1/ Q1 P2 – P1 / P1 III. Ep = Percentage of change in quantity demanded
Percentage of change in price IV. Ep = Percentage of change in price Percentage of change in
quantity demanded
a. I and IV b. II only c. II and III d. IV only
_______ 14. Which of the following is true if the product is elastic?
I. Consumers and producers are sensitive to the price at which a good is to be sold.
II. II. The manufacturers/sellers can offer more products if the price increases.
III. III. The consumers are willing to buy the products even if its price increases.
IV. IV. The manufacturers/sellers cannot produce or offer more products even if the
price increases.
a. I and II b. I and III c. I and IV d. II and III
_______ 15. Which of the following is not true if the product is inelastic?
a. The manufacturers/sellers can offer more products even if the price increases
b. . b. The consumers are not price sensitive.
c. . The demand for the product is almost the same at different price range.
d. d. The demand for the product changes because of the change in price.
_______ 11. The original price of product X is ₱20.00 before an increase of ₱5.00. Because of
this, the demand for the product decrease from 50 units to 40 units. The price elasticity
coefficient of the product X is:
a. 0.75 b. 1.00 c. 0.80 d. 0.08
_______ 12. Refer to the problem in number 11. The price elasticity of product X is: a. Elastic
b. Inelastic c. Unitary d. Perfectly inelastic
_______ 9. When there is a greater change in the demand for banana because of the change
in price of avocado. The demand for banana is said to be:
a. Unitary b. Elastic c. Inelastic d. None of the above
_______ 10. Which of the following statement is true? I. Change in income of an employee
may not affect his demand for some product. II. When there is a change in price, there is
always a change in demand. III. The demand is not affected by the change in price if the
demand for a certain product is inelastic.
a. I and II b. 1 and III c. II and III d. All of the above
_______ 13. Which of the following is the formula for price elasticity? I. Ep = P2 -P1/ P1 Q2 –
Q1 / Q1 II. Ep = Q2 -Q1/ Q1 P2 – P1 / P1 III. Ep = Percentage of change in quantity demanded
Percentage of change in price IV. Ep = Percentage of change in price Percentage of change in
quantity demanded
a. I and IV b. II only c. II and III d. IV only
_______ 15. Which of the following is not true if the product is inelastic?
a. The manufacturers/sellers can offer more products even if the price increases
b. . b. The consumers are not price sensitive.
c. . The demand for the product is almost the same at different price range.
d. d. The demand for the product changes because of the change in price.
_______ 14. Which of the following is true if the product is elastic?
V. Consumers and producers are sensitive to the price at which a good is to be sold.
VI. II. The manufacturers/sellers can offer more products if the price increases.
VII. III. The consumers are willing to buy the products even if its price increases.
VIII. IV. The manufacturers/sellers cannot produce or offer more products even if the
price increases.
a. I and II b. I and III c. I and IV d. II and III