Edexcel IGCSE Economics 1.1.4.b Formula of PED

Practise using the PED formula to link percentage changes in quantity demanded and price before moving into calculations.

[Maximum number: 2]

Calculate the percentage change in quantity demanded for a product if the price elasticity of demand (PED) is -1.9 and the price falls by 10%. You are advised to show your working.

AO2 2 marks

Award 1 mark for showing the correct calculation

$-10 \% \times-1.9$ (1)

Award 1 mark for correct change in quantity demanded = 19\% (1)

Award 2 marks if the change in quantity demanded is correctly calculated as 19\%, even if no calculations are shown

Award 1 mark if the change in quantity demanded is calculated as 19 , even if no calculations are shown

Do not award marks for a formula

(2)

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1.1.4.b PED formula question 1