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Cambridge IGCSE Economics practice

Paper 2 structured question: Price elasticity of supply (PES)

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Price elasticity of supply (PES)

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Paper 2Structured Questions4 marks

A market for agricultural products is experiencing fluctuating prices due to seasonal changes.

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Seasonal Price Fluctuations

Agricultural products often see price changes based on seasonal availability, affecting supply levels.

  1. a

    Discuss the importance of price elasticity of supply in the context of agricultural markets.

    Aim for approximately 4 distinct marking points.

    [4]

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Paper 2 structured question: Price elasticity of supply (PES)

Paper 2Structured Questions4 marks

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Impact of Subsidies on Supply

Subsidies can lower production costs for renewable energy producers, potentially increasing the quantity supplied at various price levels.

  1. a

    Explain the potential impact of subsidies on the price elasticity of supply for renewable energy.

    Aim for approximately 4 distinct marking points.

    [4]