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Cambridge IGCSE Economics (0455)

1. The basic economic problem

2. The allocation of resources

2.1. The role of markets in allocating resources

2.4. Price determination

2.5. Price changes

2.6. Price elasticity of demand (PED)

2.6.1—Definition of PED

2.6.2—Calculation of PED

2.6.3—Determinants of PED

2.6.4—PED, consumer expenditure and firms’ revenue

2.6.5—Significance of PED

2.7. Price elasticity of supply (PES)

2.8. Market economic system

2.9. Market failure

2.10. Mixed economic system

3. Microeconomic decision-makers

4. Government and the macroeconomy

5. Economic development

6. International trade and globalisation

IGCSE/CAIE/Economics//Concept/2. The allocation of resources/2.6. Price elasticity of demand (PED)/2.6.3—Determinants of PED

2. The allocation of resources

Syllabus: 0455–2027–2028
Section: 2
Level: —

Exam analysis

Most tested topics

The role of markets in allocating resources
Demand
Supply
Price determination
Price changes
Price elasticity of demand (PED)
Price elasticity of supply (PES)
Market economic system
Market failure
Mixed economic system