facebook2 twitter linkedin search arrow-right3 arrow-left3 cross

Price elasticity

Lesson Objectives

  1. Define the price elasticity of demand.
  2. Learn how to calculate the price elasticity.
  3. Understand the difference between an elastic demand and an inelastic demand.
  4. Analyze the factors that make demand become more elastic

Textbook reading

  • Chapter 5: Introduction & section 5-1

Non-textbook materials

Videos

Video: Elasticity – Introduction
Video Questions, Answers & Updates
Video: Elasticity – Pricing
Video Questions, Answers & Updates
Video: Elasticity – Applications
Video Questions, Answers & Updates

Study aids