Unit 2.5 · Elasticities of Demand

PED of Primary Commodities vs Manufactured Goods

AO2HL

Syllabus Requirement

Primary commodities tend to have lower PED than manufactured goods due to lack of substitutes and necessity. HL only.

Assessment Objectives
AO2Application and Analysis
HLThis topic is assessed at Higher Level only.

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All topics in Unit 2.5