No Bull Economics Lessons

Macroeconomics & Microeconomics Concepts You Must Know

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What does elasticity measure?

Posted on February 11, 2016 at 7:50 AM

In this No Bull Economics lesson, we discuss how to measure the responsiveness, or elasticity, of anything. This video refers to the price elasticity of demand, price elasticity of supply, income elasticity of demand, cross price elasticity of demand, wage elasticity of demand, wage elasticity of supply, interest rate elasticity of savings, and interest rate elasticity of borrowing. After looking at these basic elasticity formulas, you will definitely see a pattern!

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Categories: AP Microeconomics, Micro Unit 1 Basic Economic Concepts

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