Suvarna Jadhav from the Electrical Engineering department is presenting on the elasticity of demand. Elasticity of demand refers to how demand changes in response to changes in factors like price and income. Price elasticity of demand specifically describes the percentage change in quantity demanded resulting from a percentage change in price. Demand can be classified as elastic, unit elastic, inelastic, or perfectly inelastic depending on how responsive it is to price changes. Elastic demand means demand is sensitive to price changes - an increase in price leads to a decrease in units sold, and vice versa. This is shown in a graph where demand decreases from Q1 to Q2 as price increases from P1 to P2, indicating an elasticity greater than

1. Well Come
To
the Class
presentation Jadhav suvarna
EE21B043
Electrical Engineering

2. Now I want to present an
interesting topic which is very
easy and very thikable and
useful for knowing about
marketing is Elasticity of
demand.
To know the elasticity of demand
first we want to know about
demand and the demand from

3. Demand
Demand is the quantity of
consumers who are willing
and able to buy products at
various prices during a given
period of time. Demand for
any commodity implies the
consumers’ desire to acquire

4. In the simplest form we can say
that demand is
Desire to acquire it
Willing to pay for it and
Ability to pay for it.
The demand is from the
managerial economics part of
economics.
It is the demand and now iam

5. Elasticity of demand
 The Elasticity of demand shows variation in demand
with respect to change in some other factors such
as price and income.
 Elasticity of demand=change in demand/change in
factors(price and income).
 Elasticity of demand is an important variation on
the concept of demand.
 Now we have to discuss ‘Price elasticity of demand’
Price elasticity of demand
 It describes that the percent change in quantity
demand with respect to percent change in price.

6. Variation in price elasticity of demand
 Demand can be classified as elastic,
perfect elastic,unit elastic, inelastic and
perfect inelastic.
 Elastic demand in price elasticity of
demand:
it means ,the demand for a product is
sensitive to price change.for example selling
price of a product is increases,there will be
fewer units sold.if selling price of a product
is decreases,there will be an increase in the
number of units sold.

7. The above graph shows the decrease in
demand from Q1 to Q2 due to increase in
price from P1 to P2.
In this case the elasticity of demand
become greater than 1 .The quantity of
demanded responded responds strongly to
changes in the price.
THANK YOU