Edexcel IGCSE Economics 1.1.4 B Ped Formula Questions
Practise using the PED formula to link percentage changes in quantity demanded and price before moving into calculations.
- Syllabus
- First assessment 2019
- Course
- Economics 4EC1
Edexcel IGCSE Economics 1.1.4 B Ped Formula Questions question 1
[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%×−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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