Question 15
Product X gains several close substitutes. Which interpretation of the change from D₀ to D₁ is most accurate?
Demand has become more price elastic because consumers can switch products more easily.
Demand has become more price inelastic because consumers have more alternatives.
Demand has increased because D₁ is flatter than D₀.
Quantity demanded must remain unchanged after every price change.
2.2 Demand Questions
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.