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What is Surge Pricing? I A Level and IB Economics

Level:: A-Level, IB Diploma

Board:: AQA, Edexcel, Eduqas, IB, OCR, WJEC

Last updated 11 Mar 2024

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This economics video looks at surge pricing. Surge pricing, also known as dynamic pricing or demand-responsive pricing, is an economic concept where prices for goods or services increase during periods of high demand. It is used extensively in ride-sharing such as Uber and Lyft, hotels, airlines, theme parks and some fast-food chains are considering a type of surge pricing with investment in digital menu boards, which allow prices to be easily changed with some prices being set by an algorithm based on the strength of demand.

What is Surge Pricing? I A Level and IB Economics

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