Home › Worksheets › IB › Year 12 › Economics SL › Elasticity of Demand

IB Economics SL — Elasticity of Demand Question Paper & Practice Test

25 syllabus-aligned questions on price elasticity of demand, cross elasticity, and income elasticity for Singapore's IB Diploma students. Preview 5 for free — sign up to generate, customize, and download the complete test as a printable PDF.

IB-aligned Ready-to-use questions Editable test format PDF export after signup
Customize This Test — Try Free → View Sample Questions
What is TeachEasy? An AI-powered worksheet generator built for teachers worldwide. Generate board-aligned question papers for CBSE, ICSE, Cambridge IGCSE, IB, and other curricula in under 5 minutes — no design skills needed.

Preview 5 Elasticity of Demand Questions

5 of 25 questions shown free. Unlock the full set with a free TeachEasy account.

IB Economics SL — Elasticity of Demand
25-Question Practice Test · Mixed Difficulty · IB-Aligned
MCQ
Q1.
If the price of a good increases by 10% and quantity demanded falls by 20%, the price elasticity of demand is:
A) 0.5 (inelastic)
B) 1 (unitary)
C) 2 (elastic)
D) −0.5
Correct Answer: C
Definition
Q2.
Define price elasticity of demand (PED) and state the formula used to calculate it.
Data Response
Q3.
The table shows quantity demanded of a good at two price levels: at $10, quantity demanded is 500 units; at $12, quantity demanded is 400 units. Calculate the price elasticity of demand between these two price points and classify the demand as elastic, inelastic, or unitary.
Extended Response
Q4.
Discuss two factors that determine the price elasticity of demand for a good, using real-world examples to support your answer.
Conceptual
Q5.
Explain why goods with many close substitutes tend to have more elastic demand than goods with few substitutes.

Questions 6–25 are locked.
Sign up free to unlock all 25 questions, answers, and printable PDF format.

Unlock All 25 Questions — Try Free →

Customize This Worksheet with TeachEasy

The preview shows a fixed sample. TeachEasy lets you generate and edit the full test.

Without TeachEasy TeachEasy Free ✓
5 visible questions Generate complete tests (up to 100 questions)
Fixed topic Customize board, class, subject, and topic
Fixed difficulty Choose easy, medium, hard, or mixed difficulty
PDF locked Export printable worksheets after signup
No editing Edit, regenerate, and save questions
Start Customizing This Test →

Related IB Class 12 Economics SL Topics

Explore other chapter worksheets for the same class and subject.

Elasticity of Demand Differentiation (Mathematics AA SL) Electromagnetic Induction (Physics HL) Chemical Bonding (Chemistry SL) Business Management SLComing Soon

More chapter worksheets coming soon.

Frequently Asked Questions

Generate Your Own Question Paper

Want to customize this worksheet or generate 100 more questions? Pick your board, class, subject, topic, difficulty, and question type. TeachEasy creates a full question paper in minutes.

Try TeachEasy Free →