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IB Economics HL 2.5.1 Concept of Elasticity Questions

Practise IB Economics HL 2.5.1 by explaining elasticity as responsiveness between variables, calculating percentage changes and interpreting inelastic demand, using marked exam evidence.

Syllabus
First assessment 2022
Course
Economics HL
Level
HL

Exam points

  • Explain elasticity as responsiveness between economic variables and calculate an elasticity from percentage changes.
  • Define price inelastic demand as a proportionately smaller change in quantity demanded than the change in price, or as PED less than one.

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