Refreshed and updated PowerPoint resources aimed at assisting teachers with the delivery of the Eduqas A-level Business specification. These slides are designed to support the delivery of the Component One topic of price elasticity and income elasticity of demand. They analyse the main concepts of price and income elasticity and ensure that pupils understand the nature of inferior, normal and luxury goods. The slides explain the theory behind both concepts in some depth and provide diagrammatic analysis of near elastic and inelastic demand curves. The slides contain the Quick Fire Five questions and also a practice essay (both with solutions).
 
Note. The calculation of PED and YED is covered as part of Data Analysis in Component Two.