Question : When the price elasticity of demand is greater than 1, the demand is:

Option 1: Inelastic

Option 2: Unitary elastic

Option 3: Perfectly elastic

Option 4: Elastic

Question : If the price elasticity of demand is less than one, then the demand for the goods is said to be ______.

Option 1: perfectly inelastic

Option 2: inelastic

Option 3: perfectly elastic

Option 4: unitary elastic

Question : If the price elasticity of demand for a good is less than 1, the demand is:

Option 1: Elastic.

Option 2: Inelastic.

Option 3: Unit elastic.

Option 4: Perfectly elastic.

Question :  If the price elasticity of demand for a good is greater than 1, the demand is:

Option 1: Elastic.

Option 2: Inelastic.

Option 3: Unit elastic.

Option 4: Perfectly inelastic.

Question : If the price elasticity of demand for a good is zero, it means the demand is:

Option 1: Elastic

Option 2: Inelastic.

Option 3: Unit elastic.

Option 4: Perfectly elastic.