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Economics A Level Language Worksheet Answers

This document provides an overview of Cambridge International AS & A Level Economics. It includes sample questions and answers about price elasticity of supply, factors that influence the elasticity of supply for different goods like agricultural goods, housing, and ventilators. It also discusses potential policies governments could implement and their expected impacts to address inelastic supplies of certain goods.

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Matej Milosavljevic
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142 views1 page

Economics A Level Language Worksheet Answers

This document provides an overview of Cambridge International AS & A Level Economics. It includes sample questions and answers about price elasticity of supply, factors that influence the elasticity of supply for different goods like agricultural goods, housing, and ventilators. It also discusses potential policies governments could implement and their expected impacts to address inelastic supplies of certain goods.

Uploaded by

Matej Milosavljevic
Copyright
© All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd

CAMBRIDGE INTERNATIONAL AS & A LEVEL ECONOMICS

Language worksheet 9.1 answers


Price elasticity of supply
1 a The percentage change in quantity supplied is greater than the percentage change in price.
b The percentage change in quantity supplied is less than the percentage change in price.
c The firm can sell an infinite quantity of a good at a given price.
d The firm can only sell a limited quantity of a good regardless of price.
e At least one factor of production is fixed.
f All factors of production are variable.

2 Agricultural goods

a why Perishable goods, they take a long time to make.

b policies Government could subsidise agricultural production or incentivise more people to train as farmers.

c impact More food would be available to the domestic population and we could sell any surplus abroad.

Housing

a why Specialist skills restricted, restricted land available, long time to make

b policies Allow to build on green belt, subsidies for developers; 3D printing (?)

c impact More housing available for people; prices may become more affordable.

Ventilators in hospitals

a why Cannot be mass produced (complex engineering); factors of production cannot be transferred easily

b policies Tax cuts for producers. Train people in the production. Removing patent laws.

c impact Price will fall. No shortage.

1
Cambridge International AS & A Level Economics – Vlachonikolis, Collins & Croft © Cambridge University Press 2021

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