Elasticity of Demand

🎉 Elasticity of Demand - Introduction, Concept, Methods, and Factors 🎉

Course Overview: Dive into the fascinating world of Economics with our comprehensive course on the Elasticity of Demand. This course is meticulously designed to introduce you to the core concepts, measurement methods, and influencing factors of demand elasticity. Whether you're an economics enthusiast or a professional seeking to enhance your understanding, this course will equip you with valuable insights.

What You'll Learn:

• 🔍 Introduction to Elasticity: Gain a foundational understanding of what elasticity is and why it matters in the world of economics.
• 🚀 Concepts of Demand Elasticity: Explore the different types of demand elasticity, including elastic, inelastic, and unitary, and learn how to distinguish between them.
• 📊 Measurement Methods: Get hands-on with three primary methods of measuring price elasticity: the Percentage Method, the Total Expenditure Method, and the Point Method.
• 🌱 Degree of Price Elasticity: Discover how different products react to changes in price and categorize them accordingly.
• ⚖️ Factors Affecting Demand Elasticity: Analyze various factors that influence demand elasticity, both economically and psychologically.

Course Breakdown:

1. Elasticity of Demand: Introduction, Concept and Types 🎓

   • Understanding the basic concepts and the impact of price changes on quantity demanded.

2. Methods of Measurement of Price Elasticity of Demand 🔍

   • Dive into the specifics of each measurement method and learn how to apply them in real-world scenarios.
   • Learn the advantages and limitations of each approach.

3. Degree of Price Elasticity of Demand 📈

   • Classify products based on their elasticity and understand how to determine which category they fall into.

4. Factors Affecting Price Elasticity of Demand 🌍

   • Explore the various factors that can affect demand elasticity, including brand loyalty, availability of substitutes, and budget constraints.

Your Instructor: This course is crafted by Sanchit Gupta, a seasoned Software Engineer based in Bangalore, India, with a passion for teaching and a proven track record as a verified educator on Unacademy. With over 3 years of experience, Sanchit has become an esteemed figure in the realm of online learning, specializing in topics ranging from competitive exams to programming and personal development.

Why Take This Course?

• Self-Paced Learning: Engage with the material at your own speed, ensuring you fully grasp each concept before moving on to the next.
• Real-World Applications: Learn how to apply elasticity concepts and methods in various economic scenarios.
• Economics for All Levels: Whether you're new to economics or looking to deepen your understanding, this course is designed for all levels of expertise.
• Expert Guidance: Benefit from Sanchit Gupta's extensive experience and clear explanations, making complex economic theories accessible and interesting.

Enroll now and embark on a journey to master the intricacies of demand elasticity with our engaging and insightful course. Let's unlock the secrets of consumer behavior together! 🚀💡✨