This lesson is written for A Level Business students, introducing these two types of elasticity to them, how they are calculated, and what they mean. It is written to last approx. one hour. This is designed to be used after students have already been taught about Price Elasticity of Demand (see the other lesson I have uploaded on this topic)
For each type of elasticity the PowerPoint includes an explanation of what it is, the different types of goods (substitute/complement; normal/inferior) and how to use the calculation. There is also a small worksheet for each elasticity that requires students to practice using the calculation.
If you have any questions about this lesson, please do get in touch.
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