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The market system

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Question 16

Which one of the following services has demand that is price inelastic?

Service A, Price Elasticity of Demand (PED) is −2.4-2.4−2.4

Service B, Price Elasticity of Demand (PED) is −1.0-1.0−1.0

Service C, Price Elasticity of Demand (PED) is −0.3-0.3−0.3

Service D, Price Elasticity of Demand (PED) is +1.2+1.2+1.2

The market system Questions

  1. IGCSE
  2. /Economics
  3. /The market system