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Exam-style practice

Price elasticity of demand (PED) answer explanations

Review worked answers and explanations for Price elasticity of demand (PED). Aligned to Cambridge IGCSE Economics.

Answer explanations

Question 1 of 10

Review the answer support, then move sideways through the set.

Paper 2 structured question: Price elasticity of demand (PED)

Paper 2Structured Questions1 marks

Description

Price Elasticity of Demand

Price elasticity of demand (PED) measures how much the quantity demanded of a good changes when its price changes. It is calculated using the formula: PED = (% Change in Quantity Demanded) / (% Change in Price).

  1. a

    State the formula for calculating price elasticity of demand.

    [1]