Economics 9708 · AS & A Level · Price elasticity of demand

Price elasticity of demand — practice question

(a)[8]

Explain how you would use the concept of cross-elasticity of demand to measure the effect on the demand for cars when the price of fuel for cars rises and when the price of public transport rises.

(b)[12]

To protect its car manufacturing industry, a government is considering whether to impose import controls. Discuss the factors that should be taken into account in this decision, and whether these import controls can be justified.

Worked solution & mark scheme

This 20-mark question has a full step-by-step worked solution and mark scheme. One marking point: Knowledge and understanding of cross-elasticity of demand: what it measures (1) together with formula (1).

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