PED, YED & XED Explained | AQA A-Level Economics 3.1.2.2 (Elasticities of Demand) скачать в хорошем качестве

PED, YED & XED Explained | AQA A-Level Economics 3.1.2.2 (Elasticities of Demand)

In this video, I break down Price Elasticity of Demand (PED), Income Elasticity of Demand (YED) and Cross Elasticity of Demand (XED) exactly how the AQA A-Level Economics specification requires. Perfect for Year 12 Micro, revision, and anyone who wants clear explanations with real-world examples. What you will learn: Price Elasticity of Demand (PED) PED formula and how to calculate it Elastic vs inelastic demand Why PED matters for total revenue Business pricing decisions using elasticity Income Elasticity of Demand (YED) Positive, negative and zero YED values Normal, luxury, necessity and inferior goods How income changes shift demand 🔹 Cross Elasticity of Demand (XED) Substitutes vs complements Strong vs weak relationships (e.g., +3 or –3 values) How firms react: pricing, non-price rivalry, avoiding price wars Strategic decisions for bundles, advertising and competition Why this matters for exams: Elasticities are used to: Evaluate business behaviour Predict consumer responses Analyse government policy Explain shifts in demand Answer 4-, 9- and 15-mark questions with real accuracy This video is fully aligned with AQA Economics 3.1.2.2, but helpful for Edexcel and OCR too.