IGCSE Economics 0455 · The allocation of resources · 18

0455.2.7.1 — definition of PED.: past paper questions

6 real questionsasked in 4 of the last 10 exam series2019–2027usually: Explain, Analyse, Calculate, Define, what would be

Real questions on 0455.2.7.1 — definition of ped.

The newest 6 of 6 written questions. Open one to see it on the real paper.

0455/02 · Specimen 2027 · Q3b[4]
Explain two causes of an increase in the price elasticity of demand for rice.
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0455/23 · October/November 2025 · Q2b[4]
Explain two reasons why a firm may charge a different price for the same product in two different countries.
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0455/21 · May/June 2025 · Q2c[6]
Analyse the influences on whether demand for shoes is elastic or inelastic.
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0455/21 · May/June 2024 · Q1a[1]
Calculate the price elasticity of demand for coffee.
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0455/12 · October/November 2022 · Q7[1]
What is the definition of price elasticity of demand?
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0455/11 · October/November 2019 · Q7[1]
If the price increases from $120 to $180, what would be the price elasticity of supply?
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What examiners said

There was a wide range of answers given to this question and some strong responses. Most candidates were able to identify ‘substitutes’, ‘proportion of income spent on shoes’, ‘necessity’, and ‘durability of shoes’ as factors that will influence the price elasticity of demand (PED) of shoes. The strongest responses developed these ideas with respect to either elastic or inelastic demand. Weaker an...
— Examiner report, May/June 2025, 0455/21 Q2(c) (Cambridge)

Question 7 was answered correctly by 38% of candidates who chose option C. 21%chose option A, 18% chose option B and 23% chose option D. Elasticity of supply is the responsiveness of supply to a change in price. Those who chose option A confused the cause and effect and reversed the calculation.
— Examiner report, October/November 2019, 0455/11 Q7 (Cambridge)

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In the syllabus

18 0455.2.7.1 — definition of PED.

definition of PED.
calculation of PED Calculation of PED using the formula and interpreting the significance of the result. Drawing and interpretation of 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/ The relationship between PED and total spending revenue 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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