Year 9 - Economics

Thai Sikh International School

E-Learning Programme – Online Assignment –   dd/mm/yyyy

Name :                                                                                                                        Subject : 

Year   :                                                                                                                       Schedule No. :                                   

   1.      Decide in each case whether the demand is likely to be elastic or inelastic.

a)      Gold jewellery      

b)      b) Cut flowers                   

c)      c) coffee

d) Train travel by commuters  

e) food

   2.      Demand for luxury product falls from 500 to 200 when price rises from 2000 dollars to 2200 dollars.

a)      Calculate PED                   

b)       In this case by what percentage would demand contract if price rose by 1%.  

   3.      Decide in each case whether supply is elastic or inelastic.

         a)      Elastic bands

         b)      T Shirts

         c)      Aircrafts

         d)      Pencils.

         e)      Lamb