A garden centre changed the prices of four products. All other factors affecting demand remained unchanged.
| Product | Percentage change in price | Percentage change in quantity demanded |
|---|---|---|
| Seed compost | +6% | -3% |
| Ceramic planters | -5% | +10% |
| Watering cans | +7% | -7% |
| Garden gloves | -4% | 0% |
Which product shows a unit-elastic response to the price change?
Demand for garden gloves
Demand for seed compost
Demand for ceramic planters
Demand for watering cans
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.