AS Level Economics - Price Elasticity? Watch

sher_baby
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Report Thread starter 4 years ago
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How do you know how to answer the 8 mark question of price elasticity in unit 1(markets in action) for OCR? The mark scheme is very vague.
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fieldtop1
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I'm doing AQA, so it's not exactly the same, but I can try to help. Put a full, in depth explanation of price elasticity in with a definition and examples. If you have a source try to quote the source or take some information out of it.
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sher_baby
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The questions that I've been seeing, they speak about how it affects the equilibrium and the consumer. But for 8 marks, its hard to come up with answers. I know you need:
-definition
- calculation(sometime)
-elastic/inelastic (how it affects what the case study is on)

but it differs from paper to paper :/
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