A-level Paper 1, June 2024Markets and Business Behaviour

A-level Paper 1, June 2024, Q2(a)

With reference to the data above, explain one likely reason for the difference in the price elasticity of supply.

Short answerExplain4 marks

Context

Table: price elasticity of supply for housing in the US, 2020 – New York +0.5, Texas +1.8.

Learn this question

Open a video explanation without leaving the question.

Specification topics

Elasticity of supply

Revision notes

Question paperMark schemeExaminer report
View all questions in this paper
Question text © Pearson Edexcel, quoted for students' private study. Open the official papers and mark schemes from the links on each question.