Time & moneyAges 16-18

Price elasticity of demand (PED)

Divide percentage change in quantity demanded by percentage change in price to find |PED|. Review suitability for your learners before teaching.

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Worksheet StudioPractice pack · Ages 16-18

Price elasticity of demand (PED)

Take your time. Show your thinking.

1. When the price of a good rises by 3%, the quantity demanded falls by 9%. Calculate the absolute value of the price elasticity of demand (|PED|).
3% · 9% · Price elasticity of demand…
2. When the price of a good rises by 5%, the quantity demanded falls by 25%. Calculate the absolute value of the price elasticity of demand (|PED|).
5% · 25% · Price elasticity of demand…
3. When the price of a good rises by 9%, the quantity demanded falls by 27%. Calculate the absolute value of the price elasticity of demand (|PED|).
9% · 27% · Price elasticity of demand…
4. When the price of a good rises by 17%, the quantity demanded falls by 102%. Calculate the absolute value of the price elasticity of demand (|PED|).
17% · 102% · Price elasticity of demand…
5. When the price of a good rises by 3%, the quantity demanded falls by 12%. Calculate the absolute value of the price elasticity of demand (|PED|).
3% · 12% · Price elasticity of demand…
6. When the price of a good rises by 11%, the quantity demanded falls by 44%. Calculate the absolute value of the price elasticity of demand (|PED|).
11% · 44% · Price elasticity of demand…
7. When the price of a good rises by 14%, the quantity demanded falls by 14%. Calculate the absolute value of the price elasticity of demand (|PED|).
14% · 14% · Price elasticity of demand…
8. When the price of a good rises by 2%, the quantity demanded falls by 8%. Calculate the absolute value of the price elasticity of demand (|PED|).
2% · 8% · Price elasticity of demand…
9. When the price of a good rises by 11%, the quantity demanded falls by 22%. Calculate the absolute value of the price elasticity of demand (|PED|).
11% · 22% · Price elasticity of demand…
10. When the price of a good rises by 16%, the quantity demanded falls by 64%. Calculate the absolute value of the price elasticity of demand (|PED|).
16% · 64% · Price elasticity of demand…
11. When the price of a good rises by 3%, the quantity demanded falls by 6%. Calculate the absolute value of the price elasticity of demand (|PED|).
3% · 6% · Price elasticity of demand…
12. When the price of a good rises by 4%, the quantity demanded falls by 4%. Calculate the absolute value of the price elasticity of demand (|PED|).
4% · 4% · Price elasticity of demand…

12 questions · Seed 42 · Age guidance, not curriculum certification

View the answer key

Worksheet StudioAnswer key · Ages 16-18

Price elasticity of demand (PED)

Answers and reasoning. Review before teaching.

1. When the price of a good rises by 3%, the quantity demanded falls by 9%. Calculate the absolute value of the price elasticity of demand (|PED|).
3
|PED| = (% change in quantity demanded) ÷ (% change in price) = 9% ÷ 3% = 3.
2. When the price of a good rises by 5%, the quantity demanded falls by 25%. Calculate the absolute value of the price elasticity of demand (|PED|).
5
|PED| = (% change in quantity demanded) ÷ (% change in price) = 25% ÷ 5% = 5.
3. When the price of a good rises by 9%, the quantity demanded falls by 27%. Calculate the absolute value of the price elasticity of demand (|PED|).
3
|PED| = (% change in quantity demanded) ÷ (% change in price) = 27% ÷ 9% = 3.
4. When the price of a good rises by 17%, the quantity demanded falls by 102%. Calculate the absolute value of the price elasticity of demand (|PED|).
6
|PED| = (% change in quantity demanded) ÷ (% change in price) = 102% ÷ 17% = 6.
5. When the price of a good rises by 3%, the quantity demanded falls by 12%. Calculate the absolute value of the price elasticity of demand (|PED|).
4
|PED| = (% change in quantity demanded) ÷ (% change in price) = 12% ÷ 3% = 4.
6. When the price of a good rises by 11%, the quantity demanded falls by 44%. Calculate the absolute value of the price elasticity of demand (|PED|).
4
|PED| = (% change in quantity demanded) ÷ (% change in price) = 44% ÷ 11% = 4.
7. When the price of a good rises by 14%, the quantity demanded falls by 14%. Calculate the absolute value of the price elasticity of demand (|PED|).
1
|PED| = (% change in quantity demanded) ÷ (% change in price) = 14% ÷ 14% = 1.
8. When the price of a good rises by 2%, the quantity demanded falls by 8%. Calculate the absolute value of the price elasticity of demand (|PED|).
4
|PED| = (% change in quantity demanded) ÷ (% change in price) = 8% ÷ 2% = 4.
9. When the price of a good rises by 11%, the quantity demanded falls by 22%. Calculate the absolute value of the price elasticity of demand (|PED|).
2
|PED| = (% change in quantity demanded) ÷ (% change in price) = 22% ÷ 11% = 2.
10. When the price of a good rises by 16%, the quantity demanded falls by 64%. Calculate the absolute value of the price elasticity of demand (|PED|).
4
|PED| = (% change in quantity demanded) ÷ (% change in price) = 64% ÷ 16% = 4.
11. When the price of a good rises by 3%, the quantity demanded falls by 6%. Calculate the absolute value of the price elasticity of demand (|PED|).
2
|PED| = (% change in quantity demanded) ÷ (% change in price) = 6% ÷ 3% = 2.
12. When the price of a good rises by 4%, the quantity demanded falls by 4%. Calculate the absolute value of the price elasticity of demand (|PED|).
1
|PED| = (% change in quantity demanded) ÷ (% change in price) = 4% ÷ 4% = 1.

12 questions · Seed 42 · Age guidance, not curriculum certification

Worksheet StudioPractice pack · Ages 16-18

Price elasticity of demand (PED)

Take your time. Show your thinking.

1. When the price of a good rises by 3%, the quantity demanded falls by 9%. Calculate the absolute value of the price elasticity of demand (|PED|).
3% · 9% · Price elasticity of demand…
2. When the price of a good rises by 5%, the quantity demanded falls by 25%. Calculate the absolute value of the price elasticity of demand (|PED|).
5% · 25% · Price elasticity of demand…
3. When the price of a good rises by 9%, the quantity demanded falls by 27%. Calculate the absolute value of the price elasticity of demand (|PED|).
9% · 27% · Price elasticity of demand…
4. When the price of a good rises by 17%, the quantity demanded falls by 102%. Calculate the absolute value of the price elasticity of demand (|PED|).
17% · 102% · Price elasticity of demand…
5. When the price of a good rises by 3%, the quantity demanded falls by 12%. Calculate the absolute value of the price elasticity of demand (|PED|).
3% · 12% · Price elasticity of demand…
6. When the price of a good rises by 11%, the quantity demanded falls by 44%. Calculate the absolute value of the price elasticity of demand (|PED|).
11% · 44% · Price elasticity of demand…
7. When the price of a good rises by 14%, the quantity demanded falls by 14%. Calculate the absolute value of the price elasticity of demand (|PED|).
14% · 14% · Price elasticity of demand…
8. When the price of a good rises by 2%, the quantity demanded falls by 8%. Calculate the absolute value of the price elasticity of demand (|PED|).
2% · 8% · Price elasticity of demand…
9. When the price of a good rises by 11%, the quantity demanded falls by 22%. Calculate the absolute value of the price elasticity of demand (|PED|).
11% · 22% · Price elasticity of demand…
10. When the price of a good rises by 16%, the quantity demanded falls by 64%. Calculate the absolute value of the price elasticity of demand (|PED|).
16% · 64% · Price elasticity of demand…
11. When the price of a good rises by 3%, the quantity demanded falls by 6%. Calculate the absolute value of the price elasticity of demand (|PED|).
3% · 6% · Price elasticity of demand…
12. When the price of a good rises by 4%, the quantity demanded falls by 4%. Calculate the absolute value of the price elasticity of demand (|PED|).
4% · 4% · Price elasticity of demand…

12 questions · Seed 42 · Age guidance, not curriculum certification

Worksheet StudioAnswer key · Ages 16-18

Price elasticity of demand (PED)

Answers and reasoning. Review before teaching.

1. When the price of a good rises by 3%, the quantity demanded falls by 9%. Calculate the absolute value of the price elasticity of demand (|PED|).
3
|PED| = (% change in quantity demanded) ÷ (% change in price) = 9% ÷ 3% = 3.
2. When the price of a good rises by 5%, the quantity demanded falls by 25%. Calculate the absolute value of the price elasticity of demand (|PED|).
5
|PED| = (% change in quantity demanded) ÷ (% change in price) = 25% ÷ 5% = 5.
3. When the price of a good rises by 9%, the quantity demanded falls by 27%. Calculate the absolute value of the price elasticity of demand (|PED|).
3
|PED| = (% change in quantity demanded) ÷ (% change in price) = 27% ÷ 9% = 3.
4. When the price of a good rises by 17%, the quantity demanded falls by 102%. Calculate the absolute value of the price elasticity of demand (|PED|).
6
|PED| = (% change in quantity demanded) ÷ (% change in price) = 102% ÷ 17% = 6.
5. When the price of a good rises by 3%, the quantity demanded falls by 12%. Calculate the absolute value of the price elasticity of demand (|PED|).
4
|PED| = (% change in quantity demanded) ÷ (% change in price) = 12% ÷ 3% = 4.
6. When the price of a good rises by 11%, the quantity demanded falls by 44%. Calculate the absolute value of the price elasticity of demand (|PED|).
4
|PED| = (% change in quantity demanded) ÷ (% change in price) = 44% ÷ 11% = 4.
7. When the price of a good rises by 14%, the quantity demanded falls by 14%. Calculate the absolute value of the price elasticity of demand (|PED|).
1
|PED| = (% change in quantity demanded) ÷ (% change in price) = 14% ÷ 14% = 1.
8. When the price of a good rises by 2%, the quantity demanded falls by 8%. Calculate the absolute value of the price elasticity of demand (|PED|).
4
|PED| = (% change in quantity demanded) ÷ (% change in price) = 8% ÷ 2% = 4.
9. When the price of a good rises by 11%, the quantity demanded falls by 22%. Calculate the absolute value of the price elasticity of demand (|PED|).
2
|PED| = (% change in quantity demanded) ÷ (% change in price) = 22% ÷ 11% = 2.
10. When the price of a good rises by 16%, the quantity demanded falls by 64%. Calculate the absolute value of the price elasticity of demand (|PED|).
4
|PED| = (% change in quantity demanded) ÷ (% change in price) = 64% ÷ 16% = 4.
11. When the price of a good rises by 3%, the quantity demanded falls by 6%. Calculate the absolute value of the price elasticity of demand (|PED|).
2
|PED| = (% change in quantity demanded) ÷ (% change in price) = 6% ÷ 3% = 2.
12. When the price of a good rises by 4%, the quantity demanded falls by 4%. Calculate the absolute value of the price elasticity of demand (|PED|).
1
|PED| = (% change in quantity demanded) ÷ (% change in price) = 4% ÷ 4% = 1.

12 questions · Seed 42 · Age guidance, not curriculum certification