Concept of elasticity of demand and its types /degrees. Determining factors of price elasticity of demand. Measurement of price elasticity of demand

This note contains concept and types of elasticity of demand and its type/degree. The elasticity of demand can be categorised under three parts: price elasticity, income elasticity and cross elasticity of demand.

This note contains about the income and cross elasticity of demand. Income and cross elasticity of demand can also be explained with its types or degree.

This note contains the measurement and the determinants of the price elasticity demand. There is various method of measuring price elasticity demand but the total outlay method is the major method for the measurement of price elasticity demand.