Economics A-Level
Price Elasticity of Demand (PED)
What Price Elasticity of Demand (PED) means in Economics A-Level, as defined for Pearson Edexcel.
Definition of Price Elasticity of Demand (PED)
A measure of the responsiveness of quantity demanded to a change in price.
Topics that use Price Elasticity of Demand (PED)
- How markets work (Pearson Edexcel A-Level)
Related terms
Using Price Elasticity of Demand (PED) in the exam
Definition questions usually carry one or two marks, and examiners look for the precise wording. Write the definition from memory, check it against the version above, and then use the term in a longer answer on the same topic so it sticks.
Practise Economics questions
Create a free account to answer exam-style questions on this topic and get feedback on your answers.
Start free
All Economics A-Level terms7 days Premium · Then free forever · No card, no charge