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2.2.6 Price elasticity of demand
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What does PED measure?

What does PED measure?

Price elasticity of demand (PED) measures how responsive the quantity demanded of a good is to a change in that good's own price. The law of demand tells us the direction of the reaction, but PED tells us the size of the reaction.

2.2.6 Price elasticity of demand Lesson

  1. GCSE
  2. /Economics
  3. /2.2.6 Price elasticity of demand

Step-by-step lessons on OCR GCSE Economics 2.2.6 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