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UNIT 1 - The Business Environment - Controlled Assessment 2
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- PEARSON (PEARSON)
UNIT 1 - The Business Environment - Controlled Assessment 2
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D. Explain how elasticity of demand would be affected during a recession and how this would impact your selected organisation.In recession, the demand of the products that Greggs sells is going to be decreased and this is because of the customers having less disposable
income and of the high prices that Greggs will have for their products and this will make them to decrease the prices of the products in order to
make some profits and reasonable prices for the Greggs customers. However, if the demand is going to fall then also the supply will fall, moreover
this means that the customers of Greggs are going to be likely to go to the competitors of Greggs.
E. Explain how price sensitivity would be affected during a recession and how this would impact your selected organisation.
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