Price elasticity of supply
What Price elasticity of supply means in Economics GCSE, as defined for AQA.
Definitions of Price elasticity of supply
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Reference: AQA
Measures the responsiveness of the quantity supplied of a good or service to a change in its price.
Measures how responsive quantity supplied is to price changes.
Topics that use Price elasticity of supply
- Price elasticity of supply (AQA GCSE)
Related terms
- Consumer affordability
- Factor mobility
- Price elastic supply
- Price inelastic supply
- Production capacity
- Spare capacity
- Time periods
- Time periods in economics
Using Price elasticity of supply in the exam
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