ZIMSEC A-Level Economics
3.2Elasticity concepts
Elasticity concepts in ZIMSEC A-Level Economics: what the syllabus expects you to know, the learning objectives and how to practise.
Subtopic68 practice questions3 lessons
Learning objectives
What the syllabus expects you to be able to do.
- 3.2.1Explain and calculate price, income and cross elasticities of demand and interpret the numerical values.
- 3.2.2Explain the factors affecting elasticity of demand.
- 3.2.3Evaluate the importance of elasticity for households, firms and government, including its implications for revenue.
Lessons
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Income elasticity and cross elasticity of demand
40 min
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PED, total revenue and pricing decisions
45 min
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Price elasticity of demand: measuring and interpreting responsiveness
45 min
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Sample question
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