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Three Measures of Responsiveness

Three Measures of Responsiveness

Price elasticity of demand, or PED, measures how quantity demanded responds when the good's own price changes. It is usually negative because price and quantity demanded normally move in opposite directions.

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 on AQA A Level Economics 1.3.2 Price, income and cross elasticities of demand. Each one builds up to exam-style questions. Start with the core supply-and-demand models before moving on to the more evaluation-heavy macroeconomic policy topics.

Lessons