Economics GCSE
Mathematical calculation in economics
What Mathematical calculation in economics means in Economics GCSE, as defined for AQA.
Definition of Mathematical calculation in economics
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Reference: AQA
Working out the percentage change in quantity demanded and in price, then dividing the first by the second to give the PED value.
Topics that use Mathematical calculation in economics
- Price elasticity of demand (AQA GCSE)
Related terms
- Consumer responsiveness
- Elasticity classification
- Interpretation of numerical data
- Price elastic
- Price elastic demand
- Price elasticity of demand
- Price inelastic demand
- Substitutes
Using Mathematical calculation in economics in the exam
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