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IB Economics SL 2.5.1 Concept of Elasticity Questions

Practise IB Economics SL 2.5.1 by defining elasticity as responsiveness between variables and interpreting relatively elastic or inelastic demand, using marked exam evidence.

Syllabus
First assessment 2022
Course
Economics SL
Level
SL

Exam points

  • 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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