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Edexcel IAL Economics 1.3.2.3a price, income and cross elasticities of d

Practise defining price, income and cross elasticity of demand and linking each measure to responsiveness in a market context.

Syllabus
First assessment 2019
Course
Economics YEC11
Level
AS

Exam points

  • define income elasticity of demand as responsiveness to a change in income
  • distinguish PED, YED and XED by the variable causing the demand response

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