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.

DB
Answered by Daniel B. Economics tutor

11746 Views

See similar Economics GCSE tutors

Related Economics GCSE answers

All answers ▸

Following a period of negative economic growth, explain how total government spending and tax revenues are likely to be affected.


Draw and label a diagram to show the effects on the equilibrium market position to show the effects of a hot sunny day on the market for ice creams.


How can you calculate the Price and Quantity at a market equilibrium given the Demand curve P = 20 - Q and the Supply curve P = 3Q


Using real life examples, explain the differences between the different market structures.


We're here to help

contact us iconContact ustelephone icon+44 (0) 203 773 6020
Facebook logoInstagram logoLinkedIn logo

© MyTutorWeb Ltd 2013–2025

Terms & Conditions|Privacy Policy
Cookie Preferences