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Syllabus                        2.5  Elasticity

250 Big Ideas 2.5
2.5 Big Questions
IBQ samples
Mayu - Syllabus Notes
Mayu - Syllabus Notes (pdf)
Rating: 8/10. Welker gives a step by step mathematical explanation of a PED calculation.
VID 2: Calculating a % change
251 Formula + PeD (46-50)
252 - 3 Elasticities Explained (46-55)
253 - 3 Elasticities 3 Evaluations (50,53,54+55)
254 -  Sample Elasticity Questions
255 - PeD Valentine Cards- Data Response
You Tube - elasticity
Syllabus 2.5
Elasticity
256 PeD Worksheet
257 - Quiz: 1.2
2.5. - Elasticity

1.     complementary goods (see also 1.1)

2.     elastic

3.     inelastic

4.     PED

5.     PES

6.     substitute goods (see also 1.1)

7.     unit elasticity

8.     YED

9.  Primary commodities

HL ONLY

10.  arc elasticity of demand (not in syllabus)

11.  flat rate tax

12.  incidence of a tax (impact of elasticity)

2.5 Big Ideas
VID 1: Rating: 7/10. This is a good clip from Economics Fun highlighting that elasticity influences firms and the price changes that they make i.e. firms are influenced by total revenue considerations.
VID 2: Rating: 8/10. This is a good clip from Foodie explaining the key idea behind PED i.e. total revenue.
VID 3: Economics through music? Not for everybody but good for some!
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