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2.2.8 Importance of price elasticity of demand
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What PED tells a decision-maker

What PED tells a decision-maker

Price elasticity of demand, or PED, measures how responsive quantity demanded is to a change in price. It is calculated as the percentage change in quantity demanded divided by the percentage change in price.

2.2.8 Importance of price elasticity of demand Lesson

  1. GCSE
  2. /Economics
  3. /2.2.8 Importance of price elasticity of demand

Step-by-step lessons on OCR GCSE Economics 2.2.8 Importance of price elasticity of demand. Each one builds up to exam-style questions. Build a solid grasp of supply and demand and cost/revenue calculations before tackling the evaluation-heavy policy topics.

Lessons