This bundle is a series of 5 PowerPoints aimed covering the following areas of the Edexcel A Level Business specification:
- Demand
- Supply
- Markets
- Price Elasticity of Demand
- Income Elasticity of Demand
The specific information about what is covered is detailed below:
1.2.1 Demand
a) Factors leading to a change in demand:
o changes in the prices of substitutes and
complementary goods
o changes in consumer incomes
o fashions, tastes and preferences
o advertising and branding
o demographics
o external shocks
o seasonality
1.2.2 Supply
a) Factors leading to a change in supply:
o changes in the costs of production
o introduction of new technology
o indirect taxes
o government subsidies
o external shocks
1.2.3 Markets
a) The interaction of supply and demand
b) The drawing and interpretation of supply and demand
diagrams to show the causes and consequences of price
changes
1.2.4 Price elasticity of demand
a) Calculation of price elasticity of demand
b) Interpretation of numerical values of price elasticity of
demand
c) The factors influencing price elasticity of demand
d) The significance of price elasticity of demand to
businesses in terms of implications for pricing
e) Calculation and interpretation of the relationship
between price elasticity of demand and total revenue
1.2.5 Income elasticity of demand
a) Calculation of income elasticity of demand
b) Interpretation of numerical values of income elasticity of demand
c) The factors influencing income elasticity of demand
d) The significance of income elasticity of demand to
businesses
Something went wrong, please try again later.
This resource hasn't been reviewed yet
To ensure quality for our reviews, only customers who have purchased this resource can review it
Report this resourceto let us know if it violates our terms and conditions.
Our customer service team will review your report and will be in touch.