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CAIE A-Level Economics AS 2.3.5 Pes and Firm Response Speed Questions

Practise using PES to compare firms’ output responses and explaining slow adjustment through production lags, perishability, fixed capacity and scarce skills.

Syllabus
2026–2028
Course
Economics 9708
Level
AS

Exam points

  • Use PES to compare firms’ output responses and explain slow adjustment through production lags, perishability, fixed capacity and scarce skills.

CAIE A-Level Economics AS 2.3.5 Pes and Firm Response Speed Questions question 1

[Maximum number: 1]

Which business is likely to be the slowest to alter its output in response to a sustained increase in demand for its product?

A

a fast-food restaurant

B

a household cleaning service

C

a newspaper printer

D

an oil exploration company

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