Brainscape's Knowledge GenomeTM

Browse over 1 million classes created by top students, professors, publishers, and experts.


See full index

Economics > PES > Flashcards

PES Flashcards

1
Q

What does PES measure?

A

The responsiveness of quantity supplied given a change in price

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
2
Q

Formula for PES?

A

% change in quantity supplied/ % change in price

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
3
Q

Why is PES always a positive number?

A

Due to the law of supply

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
4
Q

Determinants of PES?

A

Production lag
Stocks
Spare capacity
Substitutability of FOPs
Time

How well did you know this?
1
Not at all
2
3
4
5
Perfectly

Economics (7 decks)

Brainscape helps you reach your goals faster, through stronger study habits.
© 2024 Bold Learning Solutions. Terms and Conditions