A bicycle repair business in a small town is reviewing the prices it charges for repairs.
Which change is most likely to make demand for this business’s repairs more price elastic?
Customers have less time to compare repair providers before deciding
Repairs become essential for more customers who commute by bicycle
The average repair takes a smaller share of customers’ incomes
Several nearby businesses begin offering equivalent bicycle repairs
82 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.