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Note that your final mark will not be saved in the system.
1.2.4 Price elasticity of demand & 1.2.5 Income elasticity of demand MatchUp
Target Level
C
Running Total
0
0%
Attempt
1 of 3
Click on a top box, then click on its match below. Or, drag a top box and drop it onto the correct match. Match all pairs before clicking ‘Check’.
Necessity
Old
Elastic
Inelastic
Negative
Purchase
Time
Product
Substitutes
Price
PED values are always ________________
Values between 0 and 1 indicate that the PED value is _______________
PED value between 1 and infinity is ____________
PED formula is % change in quantity demanded / % change in _____________
Factors influencing PED values: Availability of ______________________
Factors influencing PED values: Frequency of ________________
To calculate the % change in price use the formula: New - old / ________________ x 100
Factors influencing PED values: T___________
Factors influencing PED values: Luxury goods vs ______________ goods
Factors influencing PED values: Price of the ______________