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IGCSE Economics Formula list

  • IGCSE Economics Formula list

  • Exam (elaborations) • 2 pages • 2023
  • price elasticity of demand - correct answer% change in quantity demanded / % change in price price elasticity of supply - correct answer% change in quantity supplied / % change in price % change in quantity demanded/quantity supplied - correct answerNew quantity-Old Quantity/Old quantity *100 %change in price - correct answerNew price-Old price/Old price*100 Social cost(economical use of resources) - correct answerprivate cost + external cost Social benefit(uneconomical use of res...
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