InThinking Subject Sites

Subscription websites for Cambridge IGCSE teachers & their classes

Find out more


Sitemap
Recommendations
Other subjects
Brochure
Student access tools
 You need to log-in or subscribe in order to use Student access.

2.7.1 Definition of PED

Unit 2.7.1 - Definition of price elasticity of demand (PED)The law of demand states that as the price of a good or service increases, the quantity demanded fall, all things being equal. However, the degree of responsiveness of the change in quantity demanded will vary depending on the concept of price elasticity of demand (PED).Price elasticity of demand (PED) measures the degree of responsiveness of quantity demanded...

To access the entire contents of this site, you need to log in or subscribe to it.

Alternatively, you can request a one month free trial.