Calculations

Question 1

PED (Price Elasticity of Demand)

Answer 1

% change in quantitiy demanded / % change in price

Question 2

YED (Income Elasticity of Demand)

Answer 2

% change in quantity demanded / % change in income

Question 3

Labour Productivity

Answer 3

output / number of workers = output per worker
OR
hours / units produced = hours per unit

Question 4

Capacity Utilisation

Answer 4

current output / potential output x100

Question 5

Aggregate Demand

Answer 5

consumption + investment + government spending + (exports - imports)