Explain why the demand for food is relatively price inelastic

Food is a necessity to which there is no substitute. As a result, more consumers will be willing to pay higher prices, meaning a change in price will not cause a proportionate change in demand

JO
Answered by Jack O. Economics tutor

1171 Views

See similar Economics GCSE tutors

Related Economics GCSE answers

All answers ▸

What are causes of globalisation?


What factors can shift the demand curve in a market?


What is price elasticity of demand?


Explain why the UK have different minimum wage rates for different age groups


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