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1.3.2.3c - Interpretation of numerical values of price elasticity of demand: • perfectly price

Syllabus
2018
Objective
1.3.2.3
Level
AS

c - Interpretation of numerical values of price elasticity of demand: • perfectly price

Interpretation of numerical values of price elasticity of demand:; perfectly price elastic demand; price elastic demand; unitary price elastic demand; price inelastic demand; perfectly price inelastic demand.

Use c - interpretation of numerical values of price elasticity of demand: • perfectly price to connect the rule to the data and decision in the question.

This matters because c - interpretation of numerical values of price elasticity of demand: • perfectly price determines what can be inferred or chosen; begin with the stated conditions and keep the conclusion tied to the evidence.

Example: apply c - interpretation of numerical values of price elasticity of demand: • perfectly price to one small, clearly defined case, show the key step or comparison, and explain the result in words.

Boundary: c - Interpretation of numerical values of price elasticity of demand: • perfectly price is not a universal recommendation. Check the syllabus scope, assumptions, units and the limits of the evidence before generalising.

ConceptA-Level Edexcel Economics AS