With reference to Figure 1 and Extract A, explain what is meant by ‘price inelastic demand’ (line 8).
Price, Income and Cross Elasticities of Demand — Edexcel Past Paper Questions
6 questions on Price, Income and Cross Elasticities of Demand (Edexcel specification 1.2.3) from the A-Level Economics papers, 2018–2024. Every question links to the official mark scheme at the page its answer begins on.
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With reference to the information provided, examine the likely numerical value of the cross elasticity of demand between UK online streaming services.
With reference to Extract B, examine whether the demand for delivered food is price inelastic and income elastic.
With reference to the information provided, discuss the decision by Jet2 to increase its package holiday prices.
Examine two reasons why the demand for HCWs increases during a period when consumer ‘incomes fail to keep up with inflation’ (Extract A line 8).
With reference to Extract A and your own knowledge, examine two possible reasons for the change in price elasticity of demand for electricity over time.
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Related topics
- 1.2.6 Price Determination 4 questions
- 1.2.9 Indirect Taxes and Subsidies 5 questions
- 1.3.2 Externalities 14 questions
- 1.4.1 Government Intervention in Markets 5 questions
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