Question 1(d)
[Maximum number: 1]
State one factor that would affect price elasticity of supply (PES).
Edexcel IGCSE Economics 1.1.4.m factors influencing PES
Practise PES-factor questions by naming a supply factor and explaining how quickly firms can respond to price changes in production.
How this is tested
- State a factor affecting PES, such as stocks, spare capacity, time or inputs.
- Link a supply factor to how quickly firms can respond to a price rise.