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2.2 Demand

2.2 Demand

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Question 4

The price of a monthly subscription falls from £20 to £18 and subscriptions rise from 1,000 to 1,150. Using percentage changes from the original values, what is the price elasticity of demand by magnitude?

[1]
A

0.67

B

1.00

C

1.50

D

2.00

Markscheme

2.2 Demand Questions

  1. GCSE
  2. /Economics
  3. /2.2 Demand

41 exam-style questions on OCR GCSE Economics 2.2 Demand, covering 2.2.1 What is demand, 2.2.2 Draw a demand curve using data, 2.2.3 Explain a demand curve, 2.2.4 Shifts and movements of the demand curve, 2.2.5 Causes and consequences of demand changes, 2.2.6 Price elasticity of demand, 2.2.7 Draw demand curves of different elasticity, and 2.2.8 Importance of price elasticity of demand. Each one has a worked solution and a mark scheme showing where the marks go.

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