Note for Cambridge Students

The reading material on this blog is organised according to the corresponding unit for Edexcel A Levels. If you are doing Cambridge A Levels, please note that Units 1 & 2 roughly correspond to the AS level, while Units 3 & 4 correspond to the A2 level.

Unit 1- Reading Material

The following articles from the Financial Times provide an analysis of the demand and supply for two luxury food and beverage items: lobster and champagne.

Using a demand and supply diagram, explain the causes of the price trends discussed in the various articles.

Using evidence from the 2nd passage, to what extent is the demand for champagne elastic/inelastic?