- Price elasticity of demand (PED) ‘ppt’ * ’ppt’ IGCSE Economics. I have consistently produced A*s, As, and Bs. You can replicate my results with my up-to-date notes, *Engage your students, relax, and simply guide them as they work and learn. Questions at the end. Answers provided. *Engage your students, relax, and simply guide them as they work and learn to excel. ‘Class Activities.’ with Answers.’
Lesson Objectives;
At the end of the lesson, the students should be able to;
Define price elasticity of demand (PED)
Calculate PED using the formula and interpret the significance of the result. Draw and interpret demand curve diagrams to show different PED. Determinants of PED - The key influences on whether demand is elastic or inelastic.
PED and total spending on a product/revenue -The relationship between PED and total spending on a product/revenue, both in a diagram and as a calculation.
Significance of PED - The implications for decision making by consumers, producers and government.
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