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IB Economics HL 2.6.1 Price Elasticity of Supply Questions

Practise IB Economics HL 2.6.1 Price elasticity of supply by reviewing definitions, calculating PES from data, and interpreting how responsive supply is to price changes in marked contexts.

Syllabus
First assessment 2022
Course
Economics HL
Level
HL

Exam points

  • PES equals percentage change in quantity supplied divided by percentage change in price.
  • PES has a theoretical range of values and indicates responsiveness of supply to price.
  • Calculate PES, change in price, or quantity supplied from data.

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