PED & Pricing The 6 Mark Answer AS & IGCSE Economics

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Ever wondered why some firms profit from raising prices while others lose out? This video breaks down Price Elasticity of Demand (PED) — covering the definition, formula, elastic vs inelastic demand, and how firms use PED to make smarter pricing decisions, with a full Cambridge exam question walkthrough.

⏰ Timestamps:
0:00 Introduction
0:10 What is PED? Definition & Formula
0:39 Why PED Has a Negative Sign
0:54 Elastic vs Inelastic Demand Explained
1:27 Total Revenue Formula
1:31 Cambridge Exam Question (6 Marks)
1:39 Inelastic Demand & Pricing Strategy
1:57 Elastic Demand & Pricing Strategy
2:13 Unitary Elasticity Explained
2:30 Numerical Illustration
2:53 Resources & Outro

#PriceElasticity #Economics #CambridgeExams

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