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2.2 Demand

2.2 Demand

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Question 17

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Price falls from £15 at A to £10 at B, while weekly quantity demanded rises from 40 to 70. Which conclusion is correct?

[1]
A

Demand is price elastic and total revenue rises from £600 to £700.

B

Demand is price inelastic and total revenue rises from £400 to £1,050.

C

Demand is unitary price elastic and total revenue remains £600.

D

Demand is price elastic and total revenue falls from £700 to £600.

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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