 |
|
| Browse | Ask | Answer | Search | Join/Login |
|
|
||||
|
Economic Question please help
The case mentions 2 different price elasticities: one for the adult population as a whole, and the other for a subset of the population: young adults between the ages of 15 and 24 years old. Plese give a brief explanation og what these actually mean i.e. explan these two measures as if you were explaining them to an intelligent person, who had no knowledge of the concept of price elasticity of demand.
Can you suggest some reasons these two groups may have different price elasticities of demand?? |
||||
|
||||
|
In ecomonics it is important to understand the subsets of data that are available, age demographics are one example of the subsets available.
It is already known that younger people are responding to different stimulae, i.e. used car market rather than new car market, rental accommodation rather than mortgage finance, available cash, I'm sure you can continue to expore the stimulae and the impacts |
||||
| Question Tools | Search this Question |
Add your answer here.
Check out some similar questions!
The case mentions 2 different price elasticities: one for the adult population as a whole, and the other for a subset of the population: young adults between the ages of 15 and 24 years old. Plese give a brief explanation og what these actually mean i.e. explan these two measures as if you were...
Is economic growth without economic development meaningless?
Time Jeans, Co located in London, is a private producer of fashion Jeans and clothing. John Time, founder and general manager, has recently announced his Retirement. Your company, a potential entrant into the market for jeans, wants to evaluate the shortand Long-run potential of this market....
In macro economic literature I saw both terms "economic shock' and "economic stress" but I don't know what is their difference exactly! Any help with reference regard to my question, please!
View more questions Search
|
