Summary
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In this video we will cover Elasticity. Elasticity is the degree of responsiveness of demand to change in price, income or price of related commodity. By the end of this video viewers should be able to: a. Define elasticity b. demonstrate the five types of price and income elasticity c. apply elasticity to real life experiences d. Differentiate between the types of elasticities. This video is brought to you from Mount Kenya University school of business and Economics bring to you this video which is part of the BED 1101: INTRODUCTION TO MICROECONOMICS Curriculum.Our facilitator is Dr. Phelista Njeru to know more about the school visit www.sbe.mku.ac.ke . Visit Dr. Phelista Njeru profile here http://sbe.mku.ac.ke/?portfolio=2283 Related video: https://youtu.be/JCUUgGnK6Qo
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