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 5%, the quantity demanded falls by 15%. Calculate the absolute value of the price elasticity of demand (|PED|).
5% · 15% · Price elasticity of demand…
2. When the price of a good rises by 5%, the quantity demanded falls by 10%. Calculate the absolute value of the price elasticity of demand (|PED|).
5% · 10% · Price elasticity of demand…
3. When the price of a good rises by 8%, the quantity demanded falls by 40%. Calculate the absolute value of the price elasticity of demand (|PED|).
8% · 40% · Price elasticity of demand…
4. When the price of a good rises by 7%, the quantity demanded falls by 28%. Calculate the absolute value of the price elasticity of demand (|PED|).
7% · 28% · Price elasticity of demand…
5. When the price of a good rises by 18%, the quantity demanded falls by 72%. Calculate the absolute value of the price elasticity of demand (|PED|).
18% · 72% · Price elasticity of demand…
6. When the price of a good rises by 10%, the quantity demanded falls by 10%. Calculate the absolute value of the price elasticity of demand (|PED|).
10% · 10% · Price elasticity of demand…
7. When the price of a good rises by 10%, the quantity demanded falls by 60%. Calculate the absolute value of the price elasticity of demand (|PED|).
10% · 60% · Price elasticity of demand…
8. When the price of a good rises by 19%, the quantity demanded falls by 38%. Calculate the absolute value of the price elasticity of demand (|PED|).
19% · 38% · Price elasticity of demand…
9. 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…
10. When the price of a good rises by 6%, the quantity demanded falls by 30%. Calculate the absolute value of the price elasticity of demand (|PED|).
6% · 30% · Price elasticity of demand…
11. When the price of a good rises by 20%, the quantity demanded falls by 20%. Calculate the absolute value of the price elasticity of demand (|PED|).
20% · 20% · Price elasticity of demand…
12. When the price of a good rises by 20%, the quantity demanded falls by 120%. Calculate the absolute value of the price elasticity of demand (|PED|).
20% · 120% · Price elasticity of demand…

12 questions · Seed 104729 · 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 5%, the quantity demanded falls by 15%. Calculate the absolute value of the price elasticity of demand (|PED|).
3
|PED| = (% change in quantity demanded) ÷ (% change in price) = 15% ÷ 5% = 3.
2. When the price of a good rises by 5%, the quantity demanded falls by 10%. Calculate the absolute value of the price elasticity of demand (|PED|).
2
|PED| = (% change in quantity demanded) ÷ (% change in price) = 10% ÷ 5% = 2.
3. When the price of a good rises by 8%, the quantity demanded falls by 40%. Calculate the absolute value of the price elasticity of demand (|PED|).
5
|PED| = (% change in quantity demanded) ÷ (% change in price) = 40% ÷ 8% = 5.
4. When the price of a good rises by 7%, the quantity demanded falls by 28%. Calculate the absolute value of the price elasticity of demand (|PED|).
4
|PED| = (% change in quantity demanded) ÷ (% change in price) = 28% ÷ 7% = 4.
5. When the price of a good rises by 18%, the quantity demanded falls by 72%. Calculate the absolute value of the price elasticity of demand (|PED|).
4
|PED| = (% change in quantity demanded) ÷ (% change in price) = 72% ÷ 18% = 4.
6. When the price of a good rises by 10%, the quantity demanded falls by 10%. Calculate the absolute value of the price elasticity of demand (|PED|).
1
|PED| = (% change in quantity demanded) ÷ (% change in price) = 10% ÷ 10% = 1.
7. When the price of a good rises by 10%, the quantity demanded falls by 60%. Calculate the absolute value of the price elasticity of demand (|PED|).
6
|PED| = (% change in quantity demanded) ÷ (% change in price) = 60% ÷ 10% = 6.
8. When the price of a good rises by 19%, the quantity demanded falls by 38%. Calculate the absolute value of the price elasticity of demand (|PED|).
2
|PED| = (% change in quantity demanded) ÷ (% change in price) = 38% ÷ 19% = 2.
9. 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.
10. When the price of a good rises by 6%, the quantity demanded falls by 30%. Calculate the absolute value of the price elasticity of demand (|PED|).
5
|PED| = (% change in quantity demanded) ÷ (% change in price) = 30% ÷ 6% = 5.
11. When the price of a good rises by 20%, the quantity demanded falls by 20%. Calculate the absolute value of the price elasticity of demand (|PED|).
1
|PED| = (% change in quantity demanded) ÷ (% change in price) = 20% ÷ 20% = 1.
12. When the price of a good rises by 20%, the quantity demanded falls by 120%. Calculate the absolute value of the price elasticity of demand (|PED|).
6
|PED| = (% change in quantity demanded) ÷ (% change in price) = 120% ÷ 20% = 6.

12 questions · Seed 104729 · 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 5%, the quantity demanded falls by 15%. Calculate the absolute value of the price elasticity of demand (|PED|).
5% · 15% · Price elasticity of demand…
2. When the price of a good rises by 5%, the quantity demanded falls by 10%. Calculate the absolute value of the price elasticity of demand (|PED|).
5% · 10% · Price elasticity of demand…
3. When the price of a good rises by 8%, the quantity demanded falls by 40%. Calculate the absolute value of the price elasticity of demand (|PED|).
8% · 40% · Price elasticity of demand…
4. When the price of a good rises by 7%, the quantity demanded falls by 28%. Calculate the absolute value of the price elasticity of demand (|PED|).
7% · 28% · Price elasticity of demand…
5. When the price of a good rises by 18%, the quantity demanded falls by 72%. Calculate the absolute value of the price elasticity of demand (|PED|).
18% · 72% · Price elasticity of demand…
6. When the price of a good rises by 10%, the quantity demanded falls by 10%. Calculate the absolute value of the price elasticity of demand (|PED|).
10% · 10% · Price elasticity of demand…
7. When the price of a good rises by 10%, the quantity demanded falls by 60%. Calculate the absolute value of the price elasticity of demand (|PED|).
10% · 60% · Price elasticity of demand…
8. When the price of a good rises by 19%, the quantity demanded falls by 38%. Calculate the absolute value of the price elasticity of demand (|PED|).
19% · 38% · Price elasticity of demand…
9. 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…
10. When the price of a good rises by 6%, the quantity demanded falls by 30%. Calculate the absolute value of the price elasticity of demand (|PED|).
6% · 30% · Price elasticity of demand…
11. When the price of a good rises by 20%, the quantity demanded falls by 20%. Calculate the absolute value of the price elasticity of demand (|PED|).
20% · 20% · Price elasticity of demand…
12. When the price of a good rises by 20%, the quantity demanded falls by 120%. Calculate the absolute value of the price elasticity of demand (|PED|).
20% · 120% · Price elasticity of demand…

12 questions · Seed 104729 · 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 5%, the quantity demanded falls by 15%. Calculate the absolute value of the price elasticity of demand (|PED|).
3
|PED| = (% change in quantity demanded) ÷ (% change in price) = 15% ÷ 5% = 3.
2. When the price of a good rises by 5%, the quantity demanded falls by 10%. Calculate the absolute value of the price elasticity of demand (|PED|).
2
|PED| = (% change in quantity demanded) ÷ (% change in price) = 10% ÷ 5% = 2.
3. When the price of a good rises by 8%, the quantity demanded falls by 40%. Calculate the absolute value of the price elasticity of demand (|PED|).
5
|PED| = (% change in quantity demanded) ÷ (% change in price) = 40% ÷ 8% = 5.
4. When the price of a good rises by 7%, the quantity demanded falls by 28%. Calculate the absolute value of the price elasticity of demand (|PED|).
4
|PED| = (% change in quantity demanded) ÷ (% change in price) = 28% ÷ 7% = 4.
5. When the price of a good rises by 18%, the quantity demanded falls by 72%. Calculate the absolute value of the price elasticity of demand (|PED|).
4
|PED| = (% change in quantity demanded) ÷ (% change in price) = 72% ÷ 18% = 4.
6. When the price of a good rises by 10%, the quantity demanded falls by 10%. Calculate the absolute value of the price elasticity of demand (|PED|).
1
|PED| = (% change in quantity demanded) ÷ (% change in price) = 10% ÷ 10% = 1.
7. When the price of a good rises by 10%, the quantity demanded falls by 60%. Calculate the absolute value of the price elasticity of demand (|PED|).
6
|PED| = (% change in quantity demanded) ÷ (% change in price) = 60% ÷ 10% = 6.
8. When the price of a good rises by 19%, the quantity demanded falls by 38%. Calculate the absolute value of the price elasticity of demand (|PED|).
2
|PED| = (% change in quantity demanded) ÷ (% change in price) = 38% ÷ 19% = 2.
9. 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.
10. When the price of a good rises by 6%, the quantity demanded falls by 30%. Calculate the absolute value of the price elasticity of demand (|PED|).
5
|PED| = (% change in quantity demanded) ÷ (% change in price) = 30% ÷ 6% = 5.
11. When the price of a good rises by 20%, the quantity demanded falls by 20%. Calculate the absolute value of the price elasticity of demand (|PED|).
1
|PED| = (% change in quantity demanded) ÷ (% change in price) = 20% ÷ 20% = 1.
12. When the price of a good rises by 20%, the quantity demanded falls by 120%. Calculate the absolute value of the price elasticity of demand (|PED|).
6
|PED| = (% change in quantity demanded) ÷ (% change in price) = 120% ÷ 20% = 6.

12 questions · Seed 104729 · Age guidance, not curriculum certification