Answers>Economics>GCSE>Article

Explain why the demand for food is relatively price inelastic

Food is a nessecity, there will always be demand for food. There are no substitutes and therefore, a change in price will not cause a change in demand. Thus the market is relatively price inelastic with a near vertical demand curve.

Answered by Daniel B. • Economics tutor

12946 Views

See similar Economics GCSE tutors

Explain why the demand for food is relatively price inelastic

Related Economics GCSE answers

What factors can shift the demand curve in a market?

Explain what the possible results could be from increasing the Euro/US dollar exchange rate (you are Euro)

Why does the basic problem of choice arise?

Explain the law of demand with the help of a diagram.