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Total expenditures test - PowerPoint PPT Presentation

Splash Screen

Splash Screen

Splash Screen. Chapter Introduction Section 1: What is Demand? Section 2: Factors Affecting Demand Section 3: Elasticity of Demand Visual Summary. Chapter Menu.

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782 views • 78 slides
Demand

Demand

Demand. Chapter 4. Section 1. What is demand?. Did You Know?.

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400 views • 30 slides
Chapter 4, Section 3

Chapter 4, Section 3

Chapter 4, Section 3. Elasticity of Demand. Elasticity. A measure of responsiveness that tells us how a dependent variable such as quantity responds to a change in an independent variable such as price. Demand Elasticity.

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215 views • 21 slides
Elasticity of Demand

Elasticity of Demand

Elasticity of Demand. Chapter 4 Section 3. Demand Elasticity. Elasticity= the cause and effect relationship in economics. Demand Elasticity= measure of how much a change in price causes a change in the quantity demanded. Tells how sensitive consumers are to changes. Elastic Demand.

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277 views • 7 slides
Elasticity of Demand

Elasticity of Demand

Elasticity of Demand. Chapter 4 Section 3. Demand Elasticity. Demand Elasticity : the extent to which a change in P causes a change in the Q demanded 3 types 1. Elastic = small change in P causes a large change in Q demanded example = fresh fruit.

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158 views • 7 slides
Ch. 4, Section 3

Ch. 4, Section 3

Ch. 4, Section 3. Elasticity of Demand. Elastic demand: when a given change in P causes a relatively larger change in QD % change in QD was relatively larger than % change in P Figure 4.5 (pg. 103) Many substitutes; non-necessities Ex: food items, movie tickets, restaurants.

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135 views • 5 slides

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