Skip to content

Course home

Sign up

1.2.3 Price, income and cross elasticities of demand

EasyMediumHard
123456789101112131415161718192021222324252627282930313233343536373839404142434445
Question 31

Table 1: Income and Demand Data for 'Value-Range' White Bread

VariableYear 1Year 2
Average Weekly Household Income£500£550
Quantity Demanded of 'Value-Range' White Bread (units)8,0007,200

Using the data in Table 1, explain whether 'Value-Range' white bread is a normal good or an inferior good.

[3]
Markscheme

1.2.3 Price, income and cross elasticities of demand Questions

  1. A Level
  2. /Economics
  3. /1.2.3 Price, income and cross elasticities of demand

119 exam-style questions on Edexcel A A Level Economics 1.2.3 Price, income and cross elasticities of demand. Each one has a worked solution and a mark scheme showing where the marks go.

Question bank