Summary

Summary IGCSE Edexcel economics - 6. Price elasticity of demand

Rating

Sold

Pages

Uploaded on

08-03-2025

Written in

2024/2025

This document is a summary of price elasticity of demand for IGCSE Edexcel Economics. It explains the factors that influence PED and the formula needed to calculate it. Perfect for students, educators, and professionals looking for a clear, structured overview.

Show more Read less

Institution

Course

Whoops! We can’t load your doc right now. Try again or contact support.

Report Copyright Violation

Connected book

Rob Jones Pearson Edexcel International GCSE (9-1) Economics Student Book Ebook

Edition:2020
ISBN:9781292326535
Edition:Unknown

Written for

Institution: GCSE
Study: GCSE
Course: Economics
School year: 1

All documents for this subject (120)

Document information

Summarized whole book?: No
Which chapters are summarized?: Microeconomics - 1.1.6 price elasticity of demand
Uploaded on: March 8, 2025
Number of pages: 4
Written in: 2024/2025
Type: Summary

Subjects

igcse
gcse
igcse edexcel
igcse edexcel economics
economics
pearson

Content preview

6. Price elasticity of demand

Price elasticity of demand : the responsiveness of demand to a change in
price.

Inelastic demand : change in price results in a proportionately smaller
change in the quantity demanded.

Elastic demand : change in price results in a greater change in the quantity
demanded.

Formula for PED:
PED = % change in quantity/% change in price

Numerical values of PED:

Inelastic : value of PED is less than 1 (fraction or decimal)

6. Price elasticity of demand 1

CA$9.85

Get access to the full document:

100% satisfaction guarantee

Immediately available after payment

Both online and in PDF

No strings attached

Get to know the seller

tubaashraf

Get to know the seller

tubaashraf

View profile

Sold

Member since

9 months

Number of followers

Documents

Last sold

0.0

0 reviews

Why students choose Stuvia

Created by fellow students, verified by reviews

Quality you can trust: written by students who passed their tests and reviewed by others who've used these notes.

Didn't get what you expected? Choose another document

No worries! You can instantly pick a different document that better fits what you're looking for.

Pay as you like, start learning right away

No subscription, no commitments. Pay the way you're used to via credit card and download your PDF document instantly.

“Bought, downloaded, and aced it. It really can be that simple.”

Alisha Student

Frequently asked questions

What do I get when I buy this document?

You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.

Satisfaction guarantee: how does it work?

Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.

Who am I buying these notes from?

Stuvia is a marketplace, so you are not buying this document from us, but from seller tubaashraf. Stuvia facilitates payment to the seller.

Will I be stuck with a subscription?

No, you only buy these notes for CA$9.85. You're not tied to anything after your purchase.

Can Stuvia be trusted?

4.6 stars on Google & Trustpilot (+1000 reviews) 44104 documents were sold in the last 30 days Founded in 2010, the go-to place to buy study notes for 15 years now

Summary IGCSE Edexcel economics - 6. Price elasticity of demand

Connected book

Written for

Document information

Subjects

Content preview

More courses for GCSE > GCSE

Get to know the seller

Recently viewed by you

Why students choose Stuvia

Created by fellow students, verified by reviews

Didn't get what you expected? Choose another document

Pay as you like, start learning right away

Frequently asked questions

What do I get when I buy this document?

Satisfaction guarantee: how does it work?

Who am I buying these notes from?

Will I be stuck with a subscription?

Can Stuvia be trusted?