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Price Elasticity of Demand (PED)

Edexcel 9EB0T2-2aA-levelLesson packSubscription
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  • 11 questions
  • 40 marks
  • about 60 minutes
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Question types: calculation, short answer, multiple choice, fill the gap, matching.

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About this resource

Edexcel Economics B (9EB0) Theme 2, Unit T2-2 'Elasticities and pricing' (spec ref 2.2.1) — why PED matters to firms, the PED formula and sign convention, interpreting PED values (elastic, inelastic, unit elastic, perfectly elastic/inelastic), the factors that influence PED (substitutes, necessit…

19 slides.

Lesson outline

  1. Do Now — Retrieval
  2. Why Does PED Matter to Firms?
  3. Hinge Check — Why PED Matters
  4. The PED Formula — Worked Example (I Do)
  5. Hinge Check — Sign vs Magnitude
  6. Interpreting PED — Elastic vs Inelastic Demand
  7. Hinge Check — Reading the Diagram
  8. What Factors Influence PED?
  9. Hinge Check — The Time Factor
  10. Guided Practice — Calculate It Together (We Do)
  11. Guided Practice — Elastic or Inelastic? (Matching)
  12. PED and Total Revenue — The Key Relationship
Unit bundleTheme 2 · The wider economic environment
Part of: Theme 2 · The wider economic environment: the whole unitEvery resource in the unit in one zip.

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