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SingaporeEconomicsQuick questions
Elasticity and Its Applications
Quick questions on Price elasticity of demand explained: H2 Economics
3short Q&A pairs drawn directly from our worked dot-point answer. For full context and worked exam questions, read the parent dot-point page.
What is q1?Show answer
Price rises 20 percent and quantity demanded falls 30 percent. Calculate PED and classify it. [2 marks]
What is q2?Show answer
Explain why demand for a particular brand is more elastic than demand for the product category. [3 marks]
What is q3?Show answer
Explain why demand becomes more elastic over time. [2 marks]
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