CAIE IGCSE Economics 2.6.1 Definition of Ped Questions
Practise Cambridge IGCSE Economics by defining price elasticity of demand and identifying what it measures.
- Syllabus
- 2027–2029
- Course
- Economics 0455
Exam points
- Define price elasticity of demand as responsiveness of quantity demanded to price change.
- Distinguish price elasticity of demand from other types of elasticity.
- Identify price elasticity of demand as a microeconomics topic.
CAIE IGCSE Economics 2.6.1 Definition of Ped Questions question 1
[Maximum number: 1]
What is the definition of price elasticity of demand?
A
the responsiveness of quantity demanded of a product to a change in income of consumers
B
the responsiveness of quantity demanded of a product to a change in the price of a complementary product
C
the responsiveness of quantity demanded of a product to a change in the price of that product
D
the responsiveness of quantity demanded of a product to a change in the price of a substitute product
C
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