Mind map
Determinants of PED
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Determinants of PED
Availability of Close Substitutes
- The higher the substitutability the more elastic the demand, as consumers can switch from one to the other
Necessities versus Luxuries
Definition of the Market
Proportion of Income Devoted to the Product
Time Horizon
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- Mind Map on Determinants of PED, created by piyurox on 30/11/2015.
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- piyurox
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