IB Economics SL 2.5.2 Price elasticity of demand
IB Economics SL 2.5.2 Price elasticity of demand
Students practise calculating PED from real-world price and quantity data—including percentage changes and formula application—across Paper 2 and Paper 3 structured questions.
How this is tested
- calculate PED using %ΔQd ÷ %ΔP from raw data with correct sign and rounding
- use PED formulae to calculate missing percentage changes in price or quantity demanded
- compute total revenue before/after price changes then link to elasticity