Price elasticity of demand (PED)
% change in quantity ÷ % change in price.
PED = (% Δ Q_d) / (% Δ P) AQA GCSE 2026
📊 AQA GCSE Economics Formula Sheet
Essential formulas for elasticities, costs, revenue, national income, and macroeconomic indicators aligned to AQA GCSE Economics (8136) specification.
Elasticities Costs & Revenue National Income
Our formula sheets are free to download — save this one as PDF for offline revision.
Aligned with the latest 2026 syllabus and board specifications. This sheet is prepared to match your exam board’s official specifications for the 2026 exam series.
Master GCSE Economics
This formula sheet covers fundamental economics relationships from the AQA GCSE Economics specification, helping you calculate elasticities, analyze costs and revenue, and understand macroeconomic indicators.
📈
Elasticity calculations
🏭
Cost & revenue structures
🌍
Macroeconomic indicators
🧠
Application tips
Elasticity
Responsiveness of demand or supply to price and income.
Income elasticity of demand (YED)
% change in quantity ÷ % change in income.
YED = (% Δ Q_d) / (% Δ income) Cross elasticity (XED)
% change in Q of good A ÷ % change in price of good B.
XED = (% Δ Q_A) / (% Δ P_B) Topic Focus
Interpretation
- |PED| > 1 suggests elastic demand; |PED| < 1 inelastic.
- Normal goods have YED > 0; inferior goods often YED < 0.
National income & macro indicators
GDP, growth, inflation, unemployment (definitions and simple ratios).
Real GDP (idea)
Nominal GDP adjusted for price level changes.
Real GDP ≈ Nominal GDP / (price index / 100) Economic growth rate
Year-on-year change.
Growth (%) ≈ (GDP_t − GDP_{t−1}) / GDP_{t−1} × 100% Inflation rate
CPI or RPI based.
Inflation (%) ≈ (Index_t − Index_{t−1}) / Index_{t−1} × 100% Unemployment rate
Labour force context.
Unemployment (%) = (unemployed / labour force) × 100% Topic Focus
Data skills
- Distinguish nominal vs real when comparing across years.
- Link inflation to purchasing power of money.
Money, exchange rates & trade
Basic relationships in open economy questions.
Exchange rate (price of £)
Units of foreign currency per £1.
If £ appreciates, fewer foreign units per £ (ceteris paribus) Terms of trade (idea)
Export prices vs import prices.
Terms of trade index = (average export price index / average import price index) × 100 Balance of trade
Exports − imports of goods (and services in wider definitions).
Trade balance = X − M Topic Focus
Policy links
- Depreciation can improve price competitiveness of exports.
- Consider Marshall–Lerner condition in longer responses (elasticities matter).
Costs, revenue & objectives (firm level)
Profit and cost measures used in GCSE contexts.
Total revenue
P price, Q quantity.
TR = P × Q Profit
Total revenue minus total cost.
Profit = TR − TC Average cost
TC total cost, Q output.
AC = TC / Q Topic Focus
Diagrams
- Locate profit where TR − TC is greatest or where MR = MC in diagram questions.
- Fixed costs do not change with output in the short run.
How to Use This Formula Sheet
Boost your Cambridge exam confidence with these proven study strategies from our tutoring experts.
📝
Show Percentage Changes
Always show your working when calculating percentage changes. Use the midpoint method for large changes.
📊
Interpret Results
Don't just calculate—explain what the elasticity or ratio means and its implications for businesses or the economy.
Formula sheet FAQ
Quick answers about this free PDF, how to use it for exam revision, and how it relates to your official syllabus.
Is the AQA GCSE Economics Formula Sheet 2026 free to download as a PDF?
Yes. This Tutopiya formula sheet is free to use and you can download it as a PDF from this page for offline revision. There is no payment or account required for the PDF download.
What Economics topics and equations does this formula sheet cover?
This page groups key Economics formulas in one place for revision. Essential AQA GCSE Economics formulas covering elasticities, costs, revenue, national income, and macroeconomic indicators for UK GCSE students (8136). Always cross-check with your official syllabus and past papers for your exam session.
Can I use this instead of the official exam formula booklet in the exam?
No. In the exam you must follow only what your exam board allows in the hall—usually the official formula booklet or data sheet where provided. This page is a revision and teaching aid, not a replacement for board-issued materials.
Who is this formula sheet for (Secondary Education)?
It is written for students preparing for assessments at Secondary Education in Economics, including classroom revision, homework support, and independent study. Teachers and tutors can also share it as a quick reference.
How should I revise with this formula sheet?
Work through past paper questions, quote the correct formula before substituting values, and check units and notation every time. Pair this sheet with timed practice and mark schemes so you see how examiners expect working to be set out.
Where can I get more help with Economics revision?
Explore Tutopiya’s study tools, past paper finder, and revision checklists linked from our tools hub, or book a trial lesson with a subject specialist for personalised support alongside this formula reference.
Excel in AQA GCSE Economics
Master economics calculations with expert GCSE tutors who help you understand economic concepts and apply formulas confidently.
More Tutopiya study tools
Pair this formula sheet with past papers, revision checklists, and planners — all free on our study tools hub.
- All study tools Browse the full hub: calculators, planners, past papers, and more.
- Past paper finder Search past papers by board, subject, and year.
- Revision checklists Topic-by-topic checklists for IGCSE & A Level (2026 syllabi).
- Study planner Build schedules and stay on track before exams.
- Past paper error log Log mistakes from papers and review them systematically.
- Score tracker Track marks and grades across past paper sittings.
- Topic & paper planner Plan revision by topic and tie it to past papers.
- GPA calculator Convert IGCSE, GCSE, and A Level grades to GPA-style summaries.
- The Tutopiya Test Quick diagnostic to see where you stand.
- IGCSE resources Practice questions, notes, and guides for Cambridge & Edexcel IGCSE.
Formulas align with AQA GCSE Economics specification (8136) for UK students.
Always show your working, include units, and interpret results in economic context.