A cycle shop changes the prices of four products. The table shows the percentage change in each product's price and in its weekly quantity demanded.
| Product | Change in price | Change in quantity demanded |
|---|---|---|
| Bicycle bells | +10% | -7% |
| Bicycle lights | +5% | -8% |
| Bicycle locks | -4% | +6% |
| Bicycle pumps | -8% | +8% |
Which product has price inelastic demand over this price range?
Bicycle lights
Bicycle locks
Bicycle pumps
Bicycle bells
236 exam-style questions on AQA GCSE Economics 1.3 How prices are determined, covering 1.3.1a Demand and the factors that influence it, 1.3.1b The demand curve, 1.3.2a Supply and the factors that influence it, 1.3.2b The supply curve, 1.3.3a Determining equilibrium price, 1.3.3b Applying diagrams and showing revenue, 1.3.4a Complements and substitutes, 1.3.4b Effects of changes on related markets, 1.3.5a Price elasticity of demand, 1.3.5b Factors affecting price elasticity of demand, 1.3.5c Measuring PED and its implications, 1.3.6a Price elasticity of supply, 1.3.6b Factors affecting price elasticity of supply, and 1.3.6c Measuring PES and its implications. Each one has a worked solution and a mark scheme showing where the marks go.