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Economics A Levels > Equations > Flashcards

Equations Flashcards

1
Q

PED ( Price elasticity of demand)

A

%change in quantity demanded/% change in price

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2
Q

Income elasticity of demand

A

% change in quantity demanded/% change in income

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3
Q

Cross-elasticity of demand

A

Percentage change in quantity of A demanded/ percentage change in price of B

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4
Q

PES (Price Elasticity of Supply)

A

Percentage change in quantity supplied/ percentage change in price

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Economics A Levels (20 decks)

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