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1.3.2 Price, income and cross elasticities of demand
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What Elasticity Measures

What Elasticity Measures

Elasticity measures the responsiveness of one economic quantity to a change in another. Each elasticity is calculated as a percentage change divided by a percentage change, so it has no units.

1.3.2 Price, income and cross elasticities of demand Lesson

  1. A Level
  2. /Economics
  3. /1.3.2 Price, income and cross elasticities of demand

Step-by-step lessons covering AQA A Level Economics 1.3.2 Price, income and cross elasticities of demand for A Level Economics. Each lesson works through exam-style questions in Paper 1, Paper 2 and Paper 3 format. Start with the core supply-and-demand models before moving on to the more evaluation-heavy macroeconomic policy topics.