CIE AS Topical Past Paper 2
2.3 Price elasticity of supply
9708/21/O/N/24
Assess whether the supply of agricultural products is likely to be more price elastic or less price elastic than the supply of manufactured products. [12] [Sample Answer]
9708/21/M/J/24
9708/23/O/N/23
a) The price elasticity of supply (PES) for a new smartphone is estimated to be 0.8 in the short run and 1.8 in the long run. Explain what these estimates mean for producers and consumers of smartphones and consider why the estimates differ. [8] [Sample answer]
9708/22/O/N/23
b) Assess whether the concept of price elasticity of supply or cross elasticity of demand will be more useful to a business wanting to increase its total sales in a growing economy. [12]
9708/21/M/J/22
a) Explain two factors that determine the price elasticity of supply of a manufactured product. [8]
9708/22/F/M/22
a) Use examples to explain why the supply of some products is price elastic and the supply of other products is price inelastic. [8]
9708/21/O/N/21
b) Discuss whether decisions made by a business are more likely to be influenced by knowledge of the price elasticity of demand for its product or by knowledge of the price elasticity of supply of its product. [12]
9708/23/O/N/20
b) Discuss whether knowledge of price elasticity of demand or price elasticity of supply is more useful for a car manufacturer. [12]
9708/23/M/J/20
The price elasticity of supply for a new smartphone is estimated at 0.8 in the short run and 1.5 in the long run.
a) Explain price elasticity of supply and suggest why the above estimates differ. [8]
9708/22/M/J/20
In summer 2018, many countries suffered a water shortage because of a long spell of very dry weather.
a) Explain whether you would expect the price elasticity of supply of water to be relatively elastic or relatively inelastic. [8]