A-LevelEconomicsDemand and Supply / ElasticityMay/June 2019Paper 2 Q220 Marks
Section B Answer one question. (a) Explain how economists use the concept of elasticity to distinguish between inferior goods and necessary goods when consumer incomes change. (b) Discuss how businesses might attempt to change the price elasticity of demand for their products and consider which approach is most likely to be successful.
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