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

Price elasticity of demand — practice question

(a)[8]

Explain the factors that affect whether the price elasticity of demand for a good is likely to be relatively inelastic.

(b)[12]

Discuss whether it is more useful for governments to know the price elasticity of demand or the income elasticity of demand for certain products.

Worked solution & mark scheme

This 20-mark question has a full step-by-step worked solution and mark scheme. One marking point: “Clear knowledge of what price elasticity of demand means” …

  • Full mark scheme, point by point
  • Step-by-step worked solution
  • Write your answer & get it marked instantly by AI