Elasticity of Demand in Economics | Dr. Sania Shaheen

In this lecture by Dr. Sania Shaheen, we explore the concept of Elasticity of Demand, a crucial principle in economics that helps us understand how the quantity demanded of a good or service changes in response to price changes. Dr. Shaheen breaks down the different types of elasticity, including price elasticity of demand, income elasticity, and cross-price elasticity. This lecture is perfect for students seeking to deepen their understanding of how businesses and governments use elasticity to make informed economic decisions.
Key topics covered include:
The definition and importance of elasticity
Factors affecting the elasticity of demand
Calculating elasticity and interpreting results
Real-world applications of elasticity in business
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