Price Elasticity of Demand I A Level and IB Economics

This video looks at the basics of price elasticity of demand (PED) and the factors that influence the coefficient of elasticity.

#aqaeconomics #ibeconomics #edexceleconomics

VIDEO CHAPTERS
0:00 Introduction
0:10 What is Price Elasticity of Demand?
0:43 Numerical Values for Coefficient of Price Elasticity
1:46 What factors determine the PED of a product?
4:15 Price Elasticity of Demand and Total Revenue
5:53 Inelastic Demand (Ped 1)
7:41 Perfectly Elastic Demand (Ped = infinity)
8:05 Unitary Elastic Demand (Ped = 1)
8:34 Co-Efficient of PED along a linear demand curve
9:52 Usefulness of Price Elasticity of Demand for Producers
11:58 Critical Awareness: Limitations of Elasticities