A-Level Economics Content Series - Price Elasticities of Demand and Supply Part 2 (H1/H2)
In this course, we will be furthering our price elasticities concepts. We will be covering the effects of price elasticity of demand (PED) & price elasticity of supply (PES) on producer revenue/consumer expenditure, tax, price controls, firms & decisions as well as Marshall Lerner Condition. This course is a continuation of A-Level Economics Content Series - Price Elasticities of Demand and Supply Part 1 (H1/H2).
0 Assignments
Lesson 1 - Recap on price elasticities
In this video lesson, we will be doing a quick recap of price elasticities. For detailed learning, you can view my course “A-Level Economics Content Series - Price Elasticities of Demand and Supply Part 1 (H1/H2)”
Lesson 2 – Effects on consumer expenditure and producer revenue
In this video lesson, we will be using graphical method to explain how the shifts of the supply curves, together with the assumption of PED, in order to conclude on the consumer expenditure and producer revenue.
Lesson 3 – Effects on tax
In this video lesson, we will be discussing on a simplified model for taxation. Through an example, I will explain how quantity changes with regard to the PED and supply curve shifts.
Lesson 4 - Effects on price controls, Firms and Decisions (Brief), Marshall Lerner condition (Brief)
In this video lesson, we will be discussing on how PED matters when it comes to price control – Price Ceiling and Price Floor. For Firms and Decisions, I will be briefly talking about how PED affects it.
Lesson 5 – Exam Question Part 1
In this video lesson, I will be guiding you through on the Exam question: “Asia’s digital economy is booming. So why are Singtel and Co struggling?” You can download the extract via this link : https://bitly.ws/3goN7. Later on, you are encouraged to try out the question which I will then discuss the answer.
Lesson 6 - Exam Question Part 2
In this video lesson, we will discuss through another exam questions that pertains to PED. You can obtain the extract to the exam questions via this link : https://bitly.ws/3gyhI.