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2.2.1 definition of price elasticity, income elasticity and cross elasticity of demand (PED, YED, XED)
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What does elasticity measure?

What does elasticity measure?

An elasticity of demand measures how responsive quantity demanded is to a change in one determinant of demand. It compares two percentage changes, with all other influences held constant.

2.2.1 definition of price elasticity, income elasticity and cross elasticity of demand (PED, YED, XED) Lesson

  1. Intl A Level
  2. /Economics
  3. /2.2.1 definition of price elasticity, income elasticity and cross elasticity of demand (PED, YED, XED)

Step-by-step lessons on CIE Intl A Level Economics 2.2.1 definition of price elasticity, income elasticity and cross elasticity of demand (PED, YED, XED). Each one builds up to exam-style questions.

Lessons