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are uk exports price elastic or price inelastic?

simon180

thanks

Reply 1

jumblebumble

it completely depends on the type of export, you cant say theyre all one thing or another.

which specifically?

Reply 2

cherrycola32

Well obviously it completely depends on what it is :dontknow:

Be more specific!

Reply 3

simon180

as in, in general would we export mostly inelaastic or elastic goods? or a combination of the two

Reply 4

unamed

combination of the two, methinks.
Although it's usually more elastic.
Then again, I could be wrong. :dontknow:

Reply 5

riotgrrl

As a whole, I would guess more elastic, because there's plenty of other countries to buy from- so if our prices go up, they'll prolly go and buy them dirt cheap from China instead.

Reply 6

DJ AgnieszkaA

its a good evaluation :colonhash:

because noone can say for certain, depends on a hell of a lot of shiz.

Reply 7

AnonymousPenguin

I would say they are elastic. The evidence: when the pound rises exports fall. Detailed analysis would be quite difficult.

Reply 8

yoyo462001

Well the fact our export industry hasn't done that well even with the low pound kind of shows insensitivity to price then again consumption from other countries did decrease too. You could argue quite well both ways.

Reply 9

JakeWalk

Original post by RaiyanHaq

Inelastic: Depend on quality not price. 2009-13: £ value fell 24% but value of X only rose 1%. This was because UK exports are reliant on quality (e.g. legal services) not price