• Wrong document? Swap it for free
  • Written by students who passed
  • Immediately available after payment
  • Read online or as PDF
  • 4.6 TrustPilot
0
Sell
Where do you study
Your language
Start selling Create your account
  • AQA
  • Economics
  • Price determination in a competitive market
To add items to your wishlist, you must be logged in
Document preview thumbnail
Preview 1 out of 1 pages
Summary

Summary A level Economics (AQA) Price Elasticity Revision Notes

0.0
(0 reviews)
- sold
1 pages
2023/2024 Written for academic year
Institution
AQA
Course
Price determination in a competitive market
Document preview thumbnail
Preview 1 out of 1 pages

Summarised notes on the topic of price elasticity, also contains information on income and cross elasticity.

Content preview

Price elasticity of demand Price elasticity of demand is
how demand changes in
Perfectly elastic response to a change in price.
demand
Factors affecting PED:
Luxury/necessity.
PED > 1 = Elastic
Proportion of income
PED < 1 = Inelastic
spent.
PED = 1 Unitary
Availability of substitutes.
Time period.

Perfectly inelastic Relatively elastic
ELASTICIT
Cross elasticity of dema




Relatively inelastic Cross elasticity of demand is how
demand for a product changes in Between -1 and +1, demand i

Document information

Study Level
A/AS Level
Subject
Economics
Uploaded on
June 3, 2024
Number of pages
1
Written in
2023/2024
Type
Summary
Report Copyright Violation
$8.74
Wrong document? Swap it for free Within 14 days of purchase and before downloading, you can choose a different document. You can simply spend the amount again.
Written by students who passed
Immediately available after payment
Read online or as PDF
Seller avatar
ria2088
Sold
2
Followers
2
Items
23
Last sold
3 year ago
Available in package deal
Product Image
Package deal
A level economics (AQA) Microeconomics revision notes
-
-
Sold
4
item
Jun 2024
$35.10
$15.10
57% off More Info

Browse related subjects

Subjects

  • price elasticity
  • microeconomics
  • a level economics
  • economics
  • graphs
  • income elasticity
  • cross elasticity

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.

Student with book image

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

Alisha Student

Working on your references?

Create accurate citations in APA, MLA and Harvard with our free citation generator.

Learn more Create citation
Working on your references?

Frequently asked questions