Economics GCSE
Price Inelastic Demand
What Price Inelastic Demand means in Economics GCSE, as defined for Pearson Edexcel.
Definition of Price Inelastic Demand
When the percentage change in quantity demanded is less than the percentage change in price (PED < 1).
Topics that use Price Inelastic Demand
- Elasticity (Pearson Edexcel GCSE)
Related terms
- Income Elasticity of Demand (YED)
- Inferior Good
- Normal Good
- Price Elastic Demand
- Price Elasticity of Demand (PED)
Using Price Inelastic Demand 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.
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