McLaren’s new super sports car - income elasticity and status races
We are told that this new product has been forty-five years in the making. McLaren has unveiled its new super sports car, designed using Formula 1 technology.
This BBC video offers a sneak preview of the new car and it might be a good one to use when discussing needs and wants! Or the income elasticity of demand for luxury products and the price premium for motorists already wetting themselves in anticipation of getting behind the wheel! Given the relative absence of economies of scale in production, you might get students to estimate the likely introductory price in the market?
At a pinch I would price it between £175,000 and £200,000 but then again I am happy to potter around in a nine year old Citroen that is just a year from the knackers yard.
More From the Digital Store
Exam-style and exam-standard practice Papers 1, 2 & 3 for AQA A Level Economics.
A comprehensive collection of editable lesson topic worksheets to support the teaching of the core teaching content Year 1 (AS) A Level Economics specification.
Much cheaper & more effective than TES or the Guardian. Reach the audience you really want to apply for your teaching vacancy by posting directly to our website and related social media audiences.