An adult education centre changed the fees charged for four courses. No other factor influencing demand changed. Table 1 summarises the resulting changes in enrolments.
| Course | Change in fee (%) | Change in quantity demanded (%) |
|---|---|---|
| Pottery course | +8 | -4 |
| Photography course | -10 | +6 |
| First-aid course | +5 | -9 |
| Bookkeeping course | -15 | +12 |
Using Table 1, which statement about price elasticity of demand (PED) is correct?
Photography course, with a PED of -0.6, so demand is price elastic
Bookkeeping course, with a PED of -1.25, so demand is price elastic
First-aid course, with a PED of -1.8, so demand is price elastic
Pottery course, with a PED of -2.0, so demand is price elastic
236 exam-style questions on AQA GCSE Economics 1.3 How prices are determined, covering 1.3.1a Demand and the factors that influence it, 1.3.1b The demand curve, 1.3.2a Supply and the factors that influence it, 1.3.2b The supply curve, 1.3.3a Determining equilibrium price, 1.3.3b Applying diagrams and showing revenue, 1.3.4a Complements and substitutes, 1.3.4b Effects of changes on related markets, 1.3.5a Price elasticity of demand, 1.3.5b Factors affecting price elasticity of demand, 1.3.5c Measuring PED and its implications, 1.3.6a Price elasticity of supply, 1.3.6b Factors affecting price elasticity of supply, and 1.3.6c Measuring PES and its implications. Each one has a worked solution and a mark scheme showing where the marks go.