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2.7.3 Determinants of PED

Unit 2.7.3 - Determinants of price elasticity of demandThis section of the Cambridge IGCSE Economics (0455) syllabus requires students to understand the determinants of price elasticity of demand (PED), including the key influences on whether demand is elastic or inelastic.Recall that price elasticity of demand (PED) measures the degree of responsiveness of demand due to a change in the product’s price. The main determinants...

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