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 4%, the quantity demanded falls by 4%. Calculate the absolute value of the price elasticity of demand (|PED|).
4% · 4% · Price elasticity of demand…
2. When the price of a good rises by 2%, the quantity demanded falls by 4%. Calculate the absolute value of the price elasticity of demand (|PED|).
2% · 4% · Price elasticity of demand…
3. When the price of a good rises by 15%, the quantity demanded falls by 90%. Calculate the absolute value of the price elasticity of demand (|PED|).
15% · 90% · Price elasticity of demand…
4. When the price of a good rises by 7%, the quantity demanded falls by 35%. Calculate the absolute value of the price elasticity of demand (|PED|).
7% · 35% · Price elasticity of demand…
5. When the price of a good rises by 12%, the quantity demanded falls by 60%. Calculate the absolute value of the price elasticity of demand (|PED|).
12% · 60% · Price elasticity of demand…
6. 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…
7. When the price of a good rises by 5%, the quantity demanded falls by 30%. Calculate the absolute value of the price elasticity of demand (|PED|).
5% · 30% · Price elasticity of demand…
8. 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…
9. When the price of a good rises by 7%, the quantity demanded falls by 21%. Calculate the absolute value of the price elasticity of demand (|PED|).
7% · 21% · Price elasticity of demand…
10. When the price of a good rises by 8%, the quantity demanded falls by 24%. Calculate the absolute value of the price elasticity of demand (|PED|).
8% · 24% · Price elasticity of demand…
11. When the price of a good rises by 14%, the quantity demanded falls by 42%. Calculate the absolute value of the price elasticity of demand (|PED|).
14% · 42% · Price elasticity of demand…
12. 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…

12 questions · Seed 43 · 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 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.
2. When the price of a good rises by 2%, the quantity demanded falls by 4%. Calculate the absolute value of the price elasticity of demand (|PED|).
2
|PED| = (% change in quantity demanded) ÷ (% change in price) = 4% ÷ 2% = 2.
3. When the price of a good rises by 15%, the quantity demanded falls by 90%. Calculate the absolute value of the price elasticity of demand (|PED|).
6
|PED| = (% change in quantity demanded) ÷ (% change in price) = 90% ÷ 15% = 6.
4. When the price of a good rises by 7%, the quantity demanded falls by 35%. Calculate the absolute value of the price elasticity of demand (|PED|).
5
|PED| = (% change in quantity demanded) ÷ (% change in price) = 35% ÷ 7% = 5.
5. When the price of a good rises by 12%, the quantity demanded falls by 60%. Calculate the absolute value of the price elasticity of demand (|PED|).
5
|PED| = (% change in quantity demanded) ÷ (% change in price) = 60% ÷ 12% = 5.
6. 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.
7. When the price of a good rises by 5%, the quantity demanded falls by 30%. Calculate the absolute value of the price elasticity of demand (|PED|).
6
|PED| = (% change in quantity demanded) ÷ (% change in price) = 30% ÷ 5% = 6.
8. 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.
9. When the price of a good rises by 7%, the quantity demanded falls by 21%. Calculate the absolute value of the price elasticity of demand (|PED|).
3
|PED| = (% change in quantity demanded) ÷ (% change in price) = 21% ÷ 7% = 3.
10. When the price of a good rises by 8%, the quantity demanded falls by 24%. Calculate the absolute value of the price elasticity of demand (|PED|).
3
|PED| = (% change in quantity demanded) ÷ (% change in price) = 24% ÷ 8% = 3.
11. When the price of a good rises by 14%, the quantity demanded falls by 42%. Calculate the absolute value of the price elasticity of demand (|PED|).
3
|PED| = (% change in quantity demanded) ÷ (% change in price) = 42% ÷ 14% = 3.
12. 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.

12 questions · Seed 43 · 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 4%, the quantity demanded falls by 4%. Calculate the absolute value of the price elasticity of demand (|PED|).
4% · 4% · Price elasticity of demand…
2. When the price of a good rises by 2%, the quantity demanded falls by 4%. Calculate the absolute value of the price elasticity of demand (|PED|).
2% · 4% · Price elasticity of demand…
3. When the price of a good rises by 15%, the quantity demanded falls by 90%. Calculate the absolute value of the price elasticity of demand (|PED|).
15% · 90% · Price elasticity of demand…
4. When the price of a good rises by 7%, the quantity demanded falls by 35%. Calculate the absolute value of the price elasticity of demand (|PED|).
7% · 35% · Price elasticity of demand…
5. When the price of a good rises by 12%, the quantity demanded falls by 60%. Calculate the absolute value of the price elasticity of demand (|PED|).
12% · 60% · Price elasticity of demand…
6. 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…
7. When the price of a good rises by 5%, the quantity demanded falls by 30%. Calculate the absolute value of the price elasticity of demand (|PED|).
5% · 30% · Price elasticity of demand…
8. 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…
9. When the price of a good rises by 7%, the quantity demanded falls by 21%. Calculate the absolute value of the price elasticity of demand (|PED|).
7% · 21% · Price elasticity of demand…
10. When the price of a good rises by 8%, the quantity demanded falls by 24%. Calculate the absolute value of the price elasticity of demand (|PED|).
8% · 24% · Price elasticity of demand…
11. When the price of a good rises by 14%, the quantity demanded falls by 42%. Calculate the absolute value of the price elasticity of demand (|PED|).
14% · 42% · Price elasticity of demand…
12. 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…

12 questions · Seed 43 · 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 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.
2. When the price of a good rises by 2%, the quantity demanded falls by 4%. Calculate the absolute value of the price elasticity of demand (|PED|).
2
|PED| = (% change in quantity demanded) ÷ (% change in price) = 4% ÷ 2% = 2.
3. When the price of a good rises by 15%, the quantity demanded falls by 90%. Calculate the absolute value of the price elasticity of demand (|PED|).
6
|PED| = (% change in quantity demanded) ÷ (% change in price) = 90% ÷ 15% = 6.
4. When the price of a good rises by 7%, the quantity demanded falls by 35%. Calculate the absolute value of the price elasticity of demand (|PED|).
5
|PED| = (% change in quantity demanded) ÷ (% change in price) = 35% ÷ 7% = 5.
5. When the price of a good rises by 12%, the quantity demanded falls by 60%. Calculate the absolute value of the price elasticity of demand (|PED|).
5
|PED| = (% change in quantity demanded) ÷ (% change in price) = 60% ÷ 12% = 5.
6. 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.
7. When the price of a good rises by 5%, the quantity demanded falls by 30%. Calculate the absolute value of the price elasticity of demand (|PED|).
6
|PED| = (% change in quantity demanded) ÷ (% change in price) = 30% ÷ 5% = 6.
8. 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.
9. When the price of a good rises by 7%, the quantity demanded falls by 21%. Calculate the absolute value of the price elasticity of demand (|PED|).
3
|PED| = (% change in quantity demanded) ÷ (% change in price) = 21% ÷ 7% = 3.
10. When the price of a good rises by 8%, the quantity demanded falls by 24%. Calculate the absolute value of the price elasticity of demand (|PED|).
3
|PED| = (% change in quantity demanded) ÷ (% change in price) = 24% ÷ 8% = 3.
11. When the price of a good rises by 14%, the quantity demanded falls by 42%. Calculate the absolute value of the price elasticity of demand (|PED|).
3
|PED| = (% change in quantity demanded) ÷ (% change in price) = 42% ÷ 14% = 3.
12. 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.

12 questions · Seed 43 · Age guidance, not curriculum certification