percentage change?","back":"$$$\\frac{\\text{new value} - \\text{original value}}{\\text{original value}} \\times 100\\%$$","points":1,"mcqOptions":[{"text":"$$$\\frac{\\text{new value} - \\text{original value}}{\\text{original value}} \\times 100\\%$$","correct":true,"explanation":"Percentage change compares the difference between the new and original values with the original value. Multiplying the resulting proportion by 100 converts it into a percentage."},{"text":"$$$\\frac{\\text{new value} - \\text{original value}}{\\text{new value}} \\times 100\\%$$","correct":false,"explanation":"Dividing by the new value uses the wrong reference point. Percentage change measures the difference relative to the original value, so the original value must be the denominator."},{"text":"$$$\\frac{\\text{original value} - \\text{new value}}{\\text{original value}} \\times 100\\%$$","correct":false,"explanation":"Reversing the subtraction reverses the sign, incorrectly showing increases as negative and decreases as positive. The change is new value minus original value, divided by original value."},{"text":"$$$\\frac{\\text{new value} - \\text{original value}}{\\text{new value} + \\text{original value}} \\times 100\\%$$","correct":false,"explanation":"Using the sum of the two values as the denominator does not measure change from the starting point. The difference must be divided by the original value."}]},{"id":"532e31b6-3cc5-441a-bcc9-d6d7f42512e0","cardType":"basic","front":"In a percentage change calculation, which value must the change be divided by?","back":"The original value.","points":1,"mcqOptions":[{"text":"The original value.","correct":true,"explanation":"The original value is the starting point against which the change is compared. Dividing by it expresses how large the change is relative to the initial amount."},{"text":"The new value.","correct":false,"explanation":"The new value is the final amount, not the reference point for percentage change. The change must be divided by the original value to measure movement from the starting amount."},{"text":"The change value.","correct":false,"explanation":"The change forms the numerator, calculated as new value minus original value. It is divided by the original value before the result is multiplied by 100."},{"text":"The average value.","correct":false,"explanation":"Dividing by an average may be used in other comparisons, but not standard percentage change. Percentage change compares the difference directly with the original value."}]}]}],"examCountdown":{"examDate":"2027-05-13","paperLabel":"Paper 1"},"heading":"Quantitative skills in economics","title":"Quantitative skills in economics Flashcards","topicSidebar":"$L40"}]}],"topicId":"8e20a771-8c6c-58ac-8e84-2dabf52c7eb8","walled":"$L41"}],"$L42"]