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2.6.3 Determinants of PED

Topic 2.6.3 - Determinants of PED This section of the Cambridge IGCSE Economics (0455) syllabus requires students to understand the main influences on whether demand is elastic or inelastic, i.e., the determinants of price elasticity of demand (PED). 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 of the price...

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