Cambridge IGCSE Economics
2.6.4-2.6.5PED, spending, revenue and decision-making
PED, spending, revenue and decision-making in Cambridge IGCSE Economics: what the syllabus expects you to know, the learning objectives and how to practise.
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Learning objectives
What the syllabus expects you to be able to do.
- 2.6.4Show by diagram and calculation how price changes affect consumer spending and firms' revenue, depending on PED.
- 2.6.5Explain the implications of PED for decisions by consumers, workers, firms and government.
Lessons
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PED, consumer spending and total revenue
30 min
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Sample question
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