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CXC · CSEC · Economics

Price Elasticity
Practice Questions

20 CXC CSEC Economics questions on Price Elasticity, each with instant feedback and a full examiner-style mark scheme.

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✨ Revision guide includes key terms, worked examples and exam technique for Price Elasticity.

Try 2 sample questions on Price Elasticity

Question 1 · 1 mark · Difficulty 1/3

Which of the following products would MOST likely have price inelastic demand in Trinidad and Tobago?

  1. Imported luxury vehicles
  2. Locally grown dasheen
  3. Prescription medication for diabetes
  4. Concert tickets
Show answer & explanation
✓ Answer: CPrescription medication for diabetes
Award 1 mark for identifying that necessities with few substitutes have inelastic demand. A is incorrect — luxury goods typically have elastic demand. B is incorrect — dasheen has substitutes like yam and cassava. D is incorrect — entertainment is not a necessity.
Question 2 · 1 mark · Difficulty 1/3

The price elasticity of demand for Jamaican Blue Mountain coffee is calculated to be 0.6. This means that demand is:

  1. perfectly elastic
  2. elastic
  3. inelastic
  4. unit elastic
Show answer & explanation
✓ Answer: Cinelastic
Award 1 mark for recognising that PED < 1 indicates inelastic demand. A is incorrect — perfectly elastic would be infinity. B is incorrect — elastic requires PED > 1. D is incorrect — unit elastic requires PED = 1 exactly.
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20 questions · 25 min · free

CXC CSEC Economics: Price Elasticity FAQ

How many CXC CSEC Economics questions on Price Elasticity are there on Kramizo?
Kramizo currently has 20 exam-board-aligned practice questions on Price Elasticity for CXC CSEC Economics, with new questions added every week. Each question gives you instant feedback and a full examiner-style mark scheme that tells you exactly what would earn marks on a real CXC paper. The questions span the full difficulty range — from straightforward recall (level 1) right up to multi-step reasoning and evaluation (level 3) — so the bank works for first-pass revision and final exam-week stress testing alike.
Is Kramizo free for CXC CSEC students preparing for Economics?
Yes — completely free. Every student gets 45 questions a day on the free plan, with no card required and no trial countdown. That free quota works across every subject and every topic in our bank, so you can mix Price Elasticity practice with other Economics topics or even switch to a totally different CXC subject without paying anything. Kramizo's optional Pro plan removes the daily cap and adds detailed progress analytics, but the free tier is the real product — used by thousands of GCSE, IGCSE and CSEC students.
Are the Price Elasticity questions aligned to the official CXC CSEC Economics syllabus?
Every question is written against the published CXC CSEC Economics specification, including the exact command words (state, describe, explain, calculate, evaluate, etc.), mark allocations, and difficulty tier you'd see on a real CXC paper. Explanations are written in the style of official examiner mark schemes — they tell you what is being awarded marks and why distractors are wrong, not just whether you got it right. The bank is continually refined to match the latest syllabus updates from CXC.
How is Price Elasticity typically tested on CXC CSEC Economics papers?
Price Elasticity appears across multiple question types on real CXC CSEC Economics papers — most commonly as multiple-choice questions in the objective section, structured short-answer questions in the main paper, and occasionally as part of an extended response. Kramizo's practice bank reflects that mix: 4-option MCQs, true/false statements, fill-in-the-blank key terms, multi-select questions, and ordering questions. Working through the bank gives you exposure to every question style examiners actually use.

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