Price Elastic of demand
- Created by: jacob
- Created on: 08-04-14 21:10
View mindmap
- Price Elasticity of Demand
- Price Elastic- If PED is greater than 1
- Price Inelastic- If PED is less than 1
- % Change in Quantity demand ÷ % change in Price
- Inelastic demand e.g petrol
- Elastic demand e.g chocolate
Comments
No comments have yet been made