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What elasticity measures

What elasticity measures

Four-panel diagram comparing PED, PES, YED and XED with labelled axes and elastic or inelastic cases

Elasticity measures how strongly one economic variable responds when another changes. The four common types in this lesson are PED, YED, XED and PES, each defined by a different cause of change.

Elasticity Lesson

  1. A Level
  2. /Economics
  3. /Elasticity