Economics B A-Level
Business revenue and pricing
What Business revenue and pricing means in Economics B A-Level, as defined for Pearson Edexcel.
Definition of Business revenue and pricing
Check what you remember
Read the wording for your board, then hide it and explain Business revenue and pricing in your own words. Rough notes are fine. This is a self-check, with no mark or grade.
Reference: Pearson Edexcel
Elasticity informs business pricing strategies, including whether to raise or lower prices to maximise total revenue.
Topics that use Business revenue and pricing
- Appendix 3: Quantitative skills (Pearson Edexcel A-Level)
Related terms
- Base year
- Cross elasticity of demand
- Data interpretation
- Fraction
- Income elasticity of demand
- Index numbers
- Inflation measurement
- Marginal cost
Using Business revenue and pricing in the exam
Check the command word and mark scheme for your exact question. After comparing your explanation with the reference, use the term in an answer on the linked topic. This practice does not predict an exam mark.
Practise Economics B questions
Create a free account to answer exam-style questions on this topic and get feedback on your answers.
Start free
All Economics B A-Level termsA week of Premium from your first lesson · Then the free plan continues · No card, no charge