Edexcel A Level · 9EC0 · Theme 1: Introduction to markets and market failure
1.2.4 Price elasticity of supply
Also Edexcel AS 8EC0
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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