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3 questions on Price, Income and Cross Elasticities of Demand (AQA specification 1.3.2) from the A-Level Economics papers, 2019–2025. Every question links to the official mark scheme at the page its answer begins on.
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Extract B (line 19) states: ‘In Nigeria, the demand for rice is very price inelastic’. With the help of a diagram, explain how the Indian export ban is likely to have affected the market for rice in Nigeria.
1.3.2 Elasticities of Demand · 1.3.5 Equilibrium Market Prices
Explain how the concept of cross elasticity of demand can be used to understand the relationship between markets.
1.3.2 Elasticities of Demand · 1.3.6 Interrelationship between Markets
Explain how the impact of a minimum price for a good or service is affected by its price elasticity of demand and its price elasticity of supply.
1.8.9 Government Intervention · 1.3.2 Elasticities of Demand
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