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1.2.3 Price, income and cross elasticities of demand

What does an elasticity of demand compare?

A

The percentage change in total revenue with the percentage change in quantity supplied.

B

The percentage change in quantity demanded with the percentage change in its cause.

C

The percentage change in price with the percentage change in quantity demanded.

D

The absolute change in quantity demanded with the absolute change in its cause.

1.2.3 Price, income and cross elasticities of demand Flashcards

  1. A Level
  2. /Economics
  3. /1.2.3 Price, income and cross elasticities of demand

Flashcards for Edexcel A A Level Economics 1.2.3 Price, income and cross elasticities of demand, covering the key terms, economic models and case studies you need to recall for Paper 1, Paper 2 and Paper 3. 17 cards, matched to the Edexcel A A Level Economics (9EC0) specification.