AQA A Level · 7136 · Paper 1: Markets and market failure
4.1.3.4 Price elasticity of supply
Also AQA AS 7135: 3.1.2.4
Everything you need for questions on price elasticity of supply, in the words examiners reward. An interactive seven-step lesson goes with it.
What's on this sheet
- Price elasticity of supply (PES)
- What makes supply price elastic?
- Time: short run and long run
- Calculations
- Classic question: why are farm prices so volatile?
- Side 2: practice tasks, where the marks go, and exam-style questions
- Separate answer key
The lesson in seven steps
- A craze for e-bikes
- Build a supply curve
- Sort the products
- PES trainer
- When supply can't keep up
- Build the chain
- Exam practice
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