Price Elasticity / Supply + Demand -AS/A2/IB Diploma Business - Full lesson

This lesson / resource is about Price Elasticity with the following learning objectives and been designed for AS/AS/IB Business Studies. This lesson covers everything needed to fully understand Price Elastic / Inelastic with calculations for the PED coefficient. There is also an engaging activity to understand how and why products could be classified as elastic or inelastic

Learning objectives/Outcomes:

• Know how price is determined in a free market
• Understand Price Elasticity of Demand and how this might influence pricing strategy
• Know the difference between Elastic and Inelastic products
• Know how to calculate the Price Elasticity of Demand Coefficient

This download includes:

• A full lesson PowerPoint
• PED Calculations
• Elastic / Inelastic cards to sort as a student activity
• Multiple Choice Questions to check understanding
• Case study for discussion

All necessary resources to run the lesson are included in this download and all my lessons are for a double lesson i.e. to take around 1 hour and fifty minutes so they can be separated into two single lessons if required.

The aim of all my resources is to provide lessons / activities of good quality that will add value to your lessons / schemes of work without any extra planning.
All activities and resources have been used in class and any errors will be fixed and resources updated as soon as I am aware of any errors. I have priced my resources at what I consider to be a reasonable cost based upon the amount of effort and work I have put into them but all comments and suggestions are very welcome and will be used to improve future resources.

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