Price elasticity of demand
What Price elasticity of demand means in Economics GCSE, as defined for AQA.
Definitions of Price elasticity of demand
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Reference: AQA
Measures the responsiveness of quantity demanded to a change in price, calculated by dividing the percentage change in quantity demanded by the percentage change in price.
Measures the responsiveness of quantity demanded to a change in price.
Measures how responsive quantity demanded is to a price change.
Topics that use Price elasticity of demand
- Price elasticity of demand (AQA GCSE)
Related terms
- Consumer responsiveness
- Elasticity classification
- Interpretation of numerical data
- Mathematical calculation in economics
- Price elastic
- Price elastic demand
- Price inelastic demand
- Substitutes
Using Price elasticity of demand in the exam
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