Thursday, 4 July 2013

Popcorn & Parking

All companies are allowed to place a mark-up onto their products. This is how they make a profit. But what happens when companies appear to charge whatever they think they can get away with? Some interesting findings here about popcorn and parking charges which show excellent examples of inelastic demand. Very useful report for A2 Economics and part of a great programme you can catch up on BBC called Your Money, Their Tricks.