A level Business Revision - Price Elasticity of Demand

In this A level Business Studies revision video, we teach you about price elasticity of demand, one of the more challenging marketing topics studied in A level Business.

Price elasticity can be used by marketing managers to assess whether price changes would increase the total revenue of a product. We investigate the difference between price elastic and price inelastic products.

A level Business Studies Revision from TakingTheBiz.

[ThePrincessbyrne]

watching this an hour before my mock and I was so confused but now it seems so simple thankyou

[ameliaberry]

literally saved me for my actual exam tomorrow you are awesome

[angelbribelle]

this man is literally my life saver on God

[marshamembee]

idk what I would do without you, you make business so easy and understandable

[tahaamir]

i had this topic in my As economics too and i watched so many videos about it but EVERYONE seemed to only confuse me and jumble up my concepts. I suddenly saw your video in the eco section too. I previously used to study business from you. YOU'RE SO GOOD THIS TIME YOU SAVED ME IN ECONOMICS TOO LOL thankyou man. you're genuinely a life saver. Thankyou!!!

[pallavijhunjhunwala]

You are seriously really good! I recently found out about your channel and have been binge-watching ever since! Will share with my class for sure :)

[alekak]

Im cooked.... but i can't lie this video saved me ever so slightly thank u very much my righteous sir.

[louinho]

Anyone here a night before the exam tomorrow?

[gabrielperri]

I was introduced to you by a friend a couple of days ago and you have been absolutely helping me so much and I cant even explain how happy I am. Thank you so so so so so so much bro.

[yh]

Hi, please could you kindly work through an exam question for the harder topics such as price and income elasticity. I think that would be very helpful, especially for topics like these

[karen]

Such a clear explanation, thank you so much sir

[Luke-cyqv]

This account is really helping me with revision, thank you!!

[juliar]

Thank you sooo much!!!! I spent ages trying to understand this topic and you explained it so well! Please keep making more amazing vids!

[ZainabFatima]

Do they ever ask us to calculate the PED in business A levels exams?

[ss-yzgt]

How do you calculate PED? Your videos are great btw

[vvalfie]

Was searching for help on youtube and found a teacher at my old school!

[jfernandes_]

Sir is this true:
For an inelastic good the business should increase the price as the demand will only fall by a small amount however for an elastic good the business should decrease the price as demand will increase by a large amount.
Thanks you.

[Zaine]

Thank you so much l just got my business mock exam I got a B

[susanitaq]

Great video! Thanks
...will be great if you post a video on how to calculate elasticity? Formulas and so...

[alfie]

Am I correct in saying that for the AQA Business A level calculating PED and YED are not in the exams?
Thank you for the video, really enabled myself to understand this tricky topic a lot more.