Interesting article about Tesco - do supermarkets gain during recessionary times? This is despite the fact that if you ever go to a supermarket you spend more than in a corner shop?
Is demand for Tesco products income-elastic?
Is there much loyalty or are Sainsbury and Tesco highly cross-elastic?
Given imperfect knowledge in the customer, once inside the shop, assuming credit cards, is demand for most products price elastic or is there a tipping point when you realise that products have gone up?
TV-based competition is concentrating on price comparisons - many goods. Building up an image?
Advertising shifts the demand curve - but also affects the elasticity.
Economics Weekly Quiz w/e 17 January 2020
6 months ago