Price Elasticity of Demand (PED)
Qd quantity demanded, P price. State sign: usually negative for normal goods.
PED = (% ΔQd) / (% ΔP) Pearson Edexcel International GCSE 4EC1
📊 Edexcel IGCSE Economics Formula Sheet 2026
Micro and macro relationships for Edexcel IGCSE Paper 1 and Paper 2 with concise reminders for learners transitioning into Applied Economics.
Elasticities National Income Costs & Revenue
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.
Stay Exam Ready with Every Edexcel Economics Calculation
Edexcel questions expect you to support analysis with the right calculations. This sheet keeps elasticity, break-even, indices, multiplier, and balance of payments relationships close at hand so you can focus on real-world evaluation.
🧮
Elasticity formulas with sign cues
🏭
Short-run and long-run cost structures
🌍
National income & external sector metrics
🧠
Sentence prompts for Paper 2 data responses
Demand, Supply & Elasticities
Price Elasticity of Supply (PES)
Qs quantity supplied, P price. Positive values indicate responsiveness.
PES = (% ΔQs) / (% ΔP) Income Elasticity of Demand (YED)
Use to classify normal vs inferior goods.
YED = (% ΔQd) / (% ΔIncome) Cross Elasticity of Demand (XED)
Positive ⇒ substitutes, Negative ⇒ complements.
XED = (% ΔQd of X) / (% ΔP of Y) Midpoint Percentage Change
Use for % changes from table data to avoid directional bias.
% Δ = ((New − Old) / ((New + Old)/2)) × 100% Firm Costs, Revenue & Profit
Revenue Relationships
TR total revenue, AR revenue per unit, MR additional revenue per extra unit.
TR
TR = Price × Quantity AR
AR = TR / Quantity MR
MR = ΔTR / ΔQuantity Cost Structures
TFC fixed costs, TVC variable costs, TC total cost, MC change in cost per extra unit.
TC
TC = TFC + TVC ATC
ATC = TC / Quantity AFC
AFC = TFC / Quantity AVC
AVC = TVC / Quantity MC
MC = ΔTC / ΔQuantity Profit & Break-even
Contribution reveals how much each unit supports fixed costs.
Profit
Profit = TR − TC Average Profit
Average Profit = AR − ATC Contribution per unit
Contribution = Price − AVC Break-even output
Break-even = TFC / Contribution per unit Macro Indicators & National Income
Aggregate Demand Identity
C consumption, I investment, G government spending, X exports, M imports.
AD = C + I + G + (X − M) Multiplier
MPC marginal propensity to consume, MPS marginal propensity to save.
Simple multiplier
k = 1 / (1 − MPC) = 1 / MPS National income change
ΔY = k × Initial Injection Price Indices & Inflation
Use CPI/RPI basket values as specified in Edexcel data.
Price index
Index = (Current basket cost / Base year basket cost) × 100 Inflation rate
Inflation (%) = ((Current index − Previous index) / Previous index) × 100 Unemployment
Labour force = employed + actively seeking work.
Unemployment (%) = (Number unemployed / Labour force) × 100 Balance of Payments
Include primary and secondary income flows in calculations.
Current account = (X − M) + Net primary income + Net secondary income Development, Growth & Indices
GDP Growth Rate
Use real GDP values to adjust for inflation.
GDP growth (%) = ((Real GDP this year − Real GDP last year) / Real GDP last year) × 100 GDP per Capita
Helps compare living standards between countries.
GDP per capita = Total GDP / Population Terms of Trade
Export and import price indices (base year = 100).
ToT = (Average export price index / Average import price index) × 100 Human Development Index (HDI)
Composite of health, education, and income indices.
Know the three components; no calculation required in Edexcel specification.
How to Use This Formula Sheet
Boost your Cambridge exam confidence with these proven study strategies from our tutoring experts.
🧾
Quote & Sub in Data
Write the formula before inserting figures from the extract so examiners can award method marks.
📉
Connect to Diagrams
Follow elasticity or profit calculations with a quick note on the corresponding diagram shift.
🔁
Practice Edexcel Tables
Recreate learner profile and balance sheet tables from specimen papers to improve speed.
🧠
Link to Real-world Cases
After each calculation, comment on how it affects households, firms, or government objectives.
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 Edexcel IGCSE 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. All the Pearson Edexcel International GCSE (4EC1) Economics formulas you need for 2026 exams. Elasticities, cost and revenue, macro indicators, and index calculations with quick definitions. 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)?
It is written for students preparing for assessments at Secondary 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.
Need Help Using These Edexcel Formulas?
Work through Edexcel-style data response and structured questions with experienced IGCSE Economics tutors. We help you combine accurate calculations with evaluation.
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.
Aligned with Pearson Edexcel International GCSE Economics (4EC1) assessment objectives for 2026 exams.
Always label currency, units, and direction when interpreting numerical outcomes in 12-mark evaluations.