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IB Economics HL 2.5.6 Hl Ped for Primary Commodities Questions

Practise IB Economics HL 2.5.6 by explaining PED differences between primary commodities and manufactured goods and their effects on export revenue and current-account pressures.

Syllabus
First assessment 2022
Course
Economics HL
Level
HL

Exam points

  • Define PED and identify why demand for primary commodities is often relatively inelastic compared with manufactured goods.
  • Explain how PED affects commodity prices, export revenue and the effects of a fall in demand or price using demand and supply diagrams.
  • Analyse the implications of relatively low PED for primary-commodity export revenue and current-account pressures in real-world contexts.

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