ToyTown, a soft toy manufacturer, produces what it claims to be the cheapest teddy bears...

CIMA BA1 Question Answer

ToyTown, a soft toy manufacturer, produces what it claims to be the cheapest teddy bears on the market. The graph shows the current price of a ToyTown teddy bear and its relationship to the demand for ToyTown teddy

bears.

If the price of ToyTown teddy bears were to increase, what would happen to the demand?

Demand would fall as consumers would look for alternative teddy bears to buy

Demand would increase because the teddy bears would be seen as more prestigious by consumers due to their higher prices

Demand would fall as the relationship between price and demand as shown in the graph is inelastic

Demand would increase as the relationship between price and demand as shown in the graph is elastic

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CIMA BA1 Summary

Vendor: CIMA
Product: BA1
Update on: Jul 28, 2025
Questions: 468

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ToyTown, a soft toy manufacturer, produces what it claims to be the cheapest teddy bears...

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