Demand and Price Elasticity Worksheet
Explore the concepts of demand, supply, and price elasticity with this Grade 9 Economics worksheet.
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Demand and Price Elasticity
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Read each question carefully and answer to the best of your ability. Refer to your notes or textbook if needed.
1. What does the law of demand state?
As price increases, quantity demanded increases.
As price decreases, quantity demanded decreases.
As price increases, quantity demanded decreases.
Price has no effect on quantity demanded.
2. Which of the following is NOT a determinant of demand?
Consumer income
Price of resources
Consumer tastes and preferences
Price of related goods
3. The responsiveness of quantity demanded to a change in price is called price of demand.
4. If a good has many substitutes, its demand is likely to be more .
5. A perfectly inelastic demand curve is represented by a line.
6. An increase in consumer income will always lead to an increase in demand for all goods.
True
False
7. Goods with elastic demand are often necessities.
True
False
8. Explain the difference between a change in quantity demanded and a change in demand.
9. Describe two factors that determine the price elasticity of demand for a good.
10. Observe the image below. Describe what happens to quantity demanded as the price changes, and explain what type of elasticity is depicted.
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