Study Notes
Price Elasticity of Demand
- Level:
- GCSE, AS
- Board:
- AQA, Edexcel, OCR, IB
Last updated 18 Feb 2018
Price elasticity of demand measures the responsiveness of quantity demanded for a product to a change in price. It is one of the most important concepts in business, particularly when making decisions about pricing and the rest of the marketing mix.
The short video below provides an overview of the concept of price elasticity of demand and there are some additional study notes below the video.
You might also like
Income elasticity of demand
Study Notes
Price Elasticity of Demand
Quizzes & Activities
An Introduction to Revenues and Demand
Teaching PowerPoints
Income Elasticity of Demand
Study Notes
Finance: Understanding Demand (GCSE)
Study Notes
The Sound of Luxury - $50k Headphones
12th November 2015
Marketing Mix: Price (Revision Presentation)
Teaching PowerPoints