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Answers
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This is the easy part. Most Department of Education Leaving
Certificate questions follow the same pattern, and tend to recycle themselves over a
relatively short period.
Section A
Section B
The examination paper is, as you know, divided in Sections A and B.
There are 9 questions in Section A, of which you are required to answer 6.
These are short definition type questions for which one- or two-line answers are needed.
Examples of recent Section A Elasticity type questions are
 | A Giffen Good is
............................................................................ |
| Income Elasticity of Demand measures ..................................... |
| Price Elasticity of Demand measures ......................................... |
| An Inferior Good is
........................................................................ |
| Cross Elasticity of Demand measures ......................................... |
| Price Elasticity of Demand is usually Positive/Negative. Give a one sentence
explanation of your choice |
| PED for a good is inelastic when .................................................. |
| If Income Elasticity of Demand for a good is negative, then it must be an Inferior good.
True/False |
| Answers to all the above questions are contained within this website, and are
summarised in the Key Terms page |
It would be a very good idea now to see how you get on in an Elasticity Quiz.
You will be asked 20 short Section A type questions, with multiple choices. When you
finish answering them, if you click the <<Submit>> button, you will receive an
immediate result, with your percentage score calculated. You will then be returned
to this page. Have a go. Click here for
the Quiz
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Section B Questions
To answer Section B Elasticity Questions, you must have the relevant formulae ingrained
on your brain, and you must clearly understand
| the differences between YED, PED, CED, PES |
| what happens to total revenue when demand is
 | Elastic |
| Inelastic |
| Unitary |
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| the concepts of
| Normal Goods |
| Inferior Goods |
| Giffen Goods |
| Complementary Goods |
| Substitute Goods |
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| whether the sign is positive or negative in regard to each of the types of elasticities
in respect of Normal Goods |
| what factors determine whether a good is demand or supply elastic (See the WHY? and also the PES pages to help you here) |
Go the the Answers page for some examples of Section B
Questions that have already been set by the Department, and suggested solutions.
Section A
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