Business 9609 · AS & A Level · Business strategy

Business strategy — practice question

(a)[4]

Calculate the price elasticity of demand (PED) for GBS’s gravel product after the price fell from $90 to $81 per tonne.

(b)[12]

Evaluate how elasticity measures affect the marketing decisions GBS makes.

Worked solution & mark scheme

This 16-mark question has a full step-by-step worked solution and mark scheme. One marking point: “Accepted answer: PED = -2.5 (or -2.50).” …

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