Price elasticity of supply (PES): past paper questions
Real questions on price elasticity of supply (pes)
The newest 6 of 6 written questions. Open one to see it on the real paper.
- 2281/22 · October/November 2023 · Q4a[2]
Define elastic supply.
See it on the paper → - 2281/21 · May/June 2023 · Q1d[4]
Explain two influences on the price elasticity of supply of coal.
See it on the paper → - 2281/22 · October/November 2022 · Q4a[2]
Define inelastic supply.
See it on the paper → - 2281/23 · October/November 2022 · Q1a[1]
Calculate the price elasticity of supply of Ecuador’s oil.
See it on the paper → - 2281/22 · October/November 2019 · Q1c[2]
Calculate, using information from the extract, the price elasticity of supply (PES) of driverless cars.
See it on the paper → - 2281/22 · October/November 2019 · Q5b[4]
Explain why the concept of price elasticity of supply (PES) may be useful to a government in deciding whether to subsidise the production of a product.
See it on the paper →
What examiners said
Several candidates provided an accurate definition. However, some did not recognise that it is not just the change in supply which is greater than the change in price but the percentage change in supply which is greater. A small proportion of candidates sought to define elastic demand.
— Examiner report, October/November 2023, 2281/22 Q4(a) (Cambridge)
There were a limited number of correct answers in response to this question. The main reason for this was that the answers given related to elasticity of demand rather than supply e.g. ‘Demand is a key factor in determining the elasticity of supply of coal.’ Often, candidates were able to select storage and construction of a new mine as relevant influences affecting elasticity of supply, but then...
— Examiner report, May/June 2023, 2281/21 Q1(d) (Cambridge)
A number of answers to this question lacked precision. Such answers often wrote about how a change in price would cause a small change in supply. Inelastic supply is, of course where a percentage change in price cause a smaller percentage change in supply. A small number of candidates defined inelastic demand.
— Examiner report, October/November 2022, 2281/22 Q4(a) (Cambridge)
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