100% satisfaction guarantee Immediately available after payment Both online and in PDF No strings attached
logo-home
Introduction to Markets and Market Failure- Elasticises of Demand L123 £6.66   Add to cart

Presentation

Introduction to Markets and Market Failure- Elasticises of Demand L123

 1 view  0 purchase

A PowerPoint equipped with key definitions and a method to understand Elasticities of Demand.

Preview 4 out of 32  pages

  • October 4, 2024
  • 32
  • 2024/2025
  • Presentation
  • Unknown
All documents for this subject (1)
avatar-seller
ethan6
Elasticities of dema
LO1 : DEFINE EL ASTICITY
L02 : CALCUL ATE EL ASTICITY
L03 : EXPL AIN PRICE, INCOME AN
CROSS-PRICE EL ASTICITIES OF DE

,
,Elasticity
Both the demand for and the supply of The sensitivity of demand to a
a good or service can be expected to change in one of its determining
depend on its price as well as other factors can be measured by its
factors. elasticity.
It is useful and interesting to know just
how sensitive demand and/or supply
will be to a change in either price or
one of the other determinants – for
example, in predicting how market
equilibrium will change in response to
a change in the market environment.



Theme 1: Introduction to Markets and Market Failure – Elasticities of
Demand L123

, Price elasticity of demand (PED)
Price elasticity of demand is the
most common elasticity measure. It
measures the sensitivity of the
quantity demanded of a good or
service to a change in its price.



Remembering this basic formula for
working out the percentage change:




Theme 1: Introduction to Markets and Market Failure – Elasticities of
Demand L123

The benefits of buying summaries with Stuvia:

Guaranteed quality through customer reviews

Guaranteed quality through customer reviews

Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.

Quick and easy check-out

Quick and easy check-out

You can quickly pay through credit card for the summaries. There is no membership needed.

Focus on what matters

Focus on what matters

Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!

Frequently asked questions

What do I get when I buy this document?

You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.

Satisfaction guarantee: how does it work?

Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.

Who am I buying these notes from?

Stuvia is a marketplace, so you are not buying this document from us, but from seller ethan6. Stuvia facilitates payment to the seller.

Will I be stuck with a subscription?

No, you only buy these notes for £6.66. You're not tied to anything after your purchase.

Can Stuvia be trusted?

4.6 stars on Google & Trustpilot (+1000 reviews)

67232 documents were sold in the last 30 days

Founded in 2010, the go-to place to buy revision notes and other study material for 14 years now

Start selling
£6.66
  • (0)
  Add to cart