Economics B A-Level
Supply elasticity
What Supply elasticity means in Economics B A-Level, as defined for Pearson Edexcel.
Definition of Supply elasticity
Check what you remember
Read the wording for your board, then hide it and explain Supply elasticity in your own words. Rough notes are fine. This is a self-check, with no mark or grade.
Reference: Pearson Edexcel
A concept used to evaluate how quickly and effectively a firm can respond to a change in demand; supply is often inelastic in the short run.
Topics that use Supply elasticity
- Price mechanism (Pearson Edexcel A-Level)
Related terms
- Capacity utilisation
- Market dynamics
- Niche markets
- Price elasticity of demand
- Price mechanism
- Profit maximisation
- Profit motive
- Resource allocation
Using Supply elasticity in the exam
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