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IB Economics HL 2.5.2 Price Elasticity of Demand Questions

Practise IB Economics HL 2.5.2 by calculating PED, interpreting elastic and inelastic demand, and evaluating how price changes affect quantity demanded and revenue with exam evidence.

Syllabus
First assessment 2022
Course
Economics HL
Level
HL

Exam points

  • Calculate or rearrange the PED relationship using percentage changes in quantity demanded and price.
  • Interpret PED values, including the meaning of a value below one and the inverse price–quantity relationship.
  • Explain how price changes affect quantity demanded and revenue when demand is inelastic.

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