Question :  Which goods are most likely to have an elastic demand?

Option 1: Bread

Option 2: Salt

Option 3: Luxury cars

Option 4: Gasoline

Question : Which of the following goods is likely to have the most elastic demand?

Option 1: Gasoline

Option 2: Salt

Option 3: Insulin

Option 4: Electricity

Question : Whats is elasticty of luxury goods demand?

Option 1: Inelastic

Option 2: Elastic
 

Option 3: Highly elastic

Option 4: Perfectly Inelastic

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 : What is the elasticity of demand in the case of "Salt"?

Option 1: Elastic 

Option 2: Inelastic

Option 3: Unit elastic

Option 4: Perfectly inelastic