Скачать или смотреть Price elasticity of demand class 11 | Meaning | Degrees of price elasticity of demand | Part 1

Price elasticity of demand class 11 | Meaning | Degrees of price elasticity of demand | Part 1
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In this video, ✔️ Class: 11th ✔️ Subject: Microeconomics ✔️ Topic: Price elasticity of demand class 11 | Meaning | Degrees of price elasticity of demand | Part 1
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This video introduces the concept of Price Elasticity of Demand (PED), building upon the foundational "Theory of Demand." The instructor explains that while the Law of Demand indicates the direction of change in quantity demanded due to price fluctuations, PED quantifies this exact measurement in percentages. The video presents the PED formula (percentage change in quantity demanded divided by percentage change in price), illustrating its application with real-life examples and diagrams. It then proceeds to detail the five degrees of Price Elasticity of Demand: unitary elastic, highly elastic, highly inelastic, perfectly inelastic, and perfectly elastic, providing definitions, examples, and graphical representations for each. The content emphasises the practical application of PED in consumer decision-making and concludes with a homework assignment to summarise these concepts in a comparative table.
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Queries solved:
0:00 - Overview of price elasticity of Demand Class 11
07:18 - Meaning of price elasticity of demand
08:36 - Degrees of price elasticity of demand
30:29 - Difference among Degrees of price elasticity of demand
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