Economics GCSE
Interpretation of numerical data
What Interpretation of numerical data means in Economics GCSE, as defined for AQA.
Definition of Interpretation of numerical data
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Reference: AQA
Reading the resulting PED value, ignoring the minus sign, to judge whether demand is price elastic, price inelastic or unitary elastic.
Topics that use Interpretation of numerical data
- Price elasticity of demand (AQA GCSE)
Related terms
- Consumer responsiveness
- Elasticity classification
- Mathematical calculation in economics
- Price elastic
- Price elastic demand
- Price elasticity of demand
- Price inelastic demand
- Substitutes
Using Interpretation of numerical data in the exam
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