1.3.2.4b - PED values

Interpret numerical values of price elasticity of demand.

Use b - ped values to connect the rule to the data and decision in the question.

This matters because b - ped values determines what can be inferred or chosen; begin with the stated conditions and keep the conclusion tied to the evidence.

Example: apply b - ped values to one small, clearly defined case, show the key step or comparison, and explain the result in words.

Boundary: b - PED values is not a universal recommendation. Check the syllabus scope, assumptions, units and the limits of the evidence before generalising.