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IB Economics 2.6 Elasticity of supply

Practise defining and calculating price elasticity of supply, interpreting elastic or inelastic responses, and using diagrams and production constraints to explain market outcomes.

Syllabus
First assessment 2022
Course
Economics SL
Level
SL

Exam points

  • define, calculate and interpret PES from percentage changes in price and quantity supplied
  • use PES diagrams and determinants such as time, storage, spare capacity and factor mobility

Covered syllabus points

2.6.1—Price elasticity of supply2.6.2—PES determinants and diagrams

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