Price Elasticity of Demand (PED). Case Study Practise Questions
Do you need more opportunities for your students to practise their quantitative skills?
Price elasticity of demand (PED) is the responsiveness of demand to changes in price. Demand for elastic products is more responsive than demand for inelastic products. Understanding the PED of products is important for management when deciding on whether to adapt the prices of their goods and services. For example, increasing the price of inelastic goods can lead to higher revenue but increasing the price of elastic goods can reduce revenue.
This pack contains 12 case studies in the style found in Business Studies examinations and coursework tasks. Questions include;
• Calculating PED
• Calculating change in demand
• Calculating change in price
• Calculating changes in revenue
• Explaining impact of PED on revenue
This pack is helpful to any Business Studies course including,
• A Level Business Studies
• IB Business Studies
• BTEC Business Studies
• GCSE Business Studies
How to use this resource;
• Print this out for your students as a quick in class assessment
• Print out for homework or revision material.
• Display it on your whiteboard to save paper
• Upload it to a VLE as part of a home learning programme.
Do you need more opportunities for your students to practise their quantitative skills?
Price elasticity of demand (PED) is the responsiveness of demand to changes in price. Demand for elastic products is more responsive than demand for inelastic products. Understanding the PED of products is important for management when deciding on whether to adapt the prices of their goods and services. For example, increasing the price of inelastic goods can lead to higher revenue but increasing the price of elastic goods can reduce revenue.
This pack contains 12 case studies in the style found in Business Studies examinations and coursework tasks. Questions include;
• Calculating PED
• Calculating change in demand
• Calculating change in price
• Calculating changes in revenue
• Explaining impact of PED on revenue
This pack is helpful to any Business Studies course including,
• A Level Business Studies
• IB Business Studies
• BTEC Business Studies
• GCSE Business Studies
How to use this resource;
• Print this out for your students as a quick in class assessment
• Print out for homework or revision material.
• Display it on your whiteboard to save paper
• Upload it to a VLE as part of a home learning programme.
Do you need more opportunities for your students to practise their quantitative skills?
Price elasticity of demand (PED) is the responsiveness of demand to changes in price. Demand for elastic products is more responsive than demand for inelastic products. Understanding the PED of products is important for management when deciding on whether to adapt the prices of their goods and services. For example, increasing the price of inelastic goods can lead to higher revenue but increasing the price of elastic goods can reduce revenue.
This pack contains 12 case studies in the style found in Business Studies examinations and coursework tasks. Questions include;
• Calculating PED
• Calculating change in demand
• Calculating change in price
• Calculating changes in revenue
• Explaining impact of PED on revenue
This pack is helpful to any Business Studies course including,
• A Level Business Studies
• IB Business Studies
• BTEC Business Studies
• GCSE Business Studies
How to use this resource;
• Print this out for your students as a quick in class assessment
• Print out for homework or revision material.
• Display it on your whiteboard to save paper
• Upload it to a VLE as part of a home learning programme.