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

13103 Views

See similar Economics GCSE tutors

Explain why the demand for food is relatively price inelastic

Related Economics GCSE answers

What is the price elasticity of demand ?

Evaluate the use of supply side policies as a means of controlling UK inflation (30 marks)

Define the term PPF and illustrate it.

Explain why income tax in the UK is an example of progressive taxation.