AS Paper 1, June 2025Introduction to Markets and Market Failure

AS Paper 1, June 2025, Q6(a)

With reference to Extract B, explain why the change to meat-substitute products may result in an increase in the revenue of food companies. Refer to the concept of price elasticity of demand in your answer.

Data responseExplain5 marks

Case study

The market for meat and the growth of vegetarianism

Specification topics

Price, income and cross elasticities of demandDemand

Revision notes

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