Microeconomics

Table of Contents

1. Topic pack - Microeconomics - introduction
2. 1.1 Competitive Markets: Demand and Supply
3. 1.1 Competitive Markets: Demand and Supply - notes
4. 1.1 Competitive markets - questions
5. 1.1 Competitive markets - simulations and activities
6. 1.2 Elasticities
7. 1.2 Elasticities - notes
8. Section 1.2 Elasticities - questions
9. Section 1.2 Elasticities - simulations and activities
   1. DragIT - Calculating elasticity
   2. DragIT - Elasticity
10. 1.3 Government intervention
11. 1.3 Government Intervention - notes
12. 1.3 Government intervention - questions
13. 1.3 Government intervention - simulations and activities
14. 1.4 Market failure
15. 1.4 Market failure - notes
16. Section 1.4 Market failure - questions
17. Section 1.4 Market failure - simulations and activities
18. 1.5 Theory of the firm
19. 1.5 Theory of the firm - notes (HL only)
20. Section 1.5 Theory of the firm - questions
21. Section 1.5 Theory of the firm - simulations and activities
22. Print View

DragIT - Elasticity

In this section you can check that you know all the elasticity formulae. In the exercises below, you need to drag the blue buttons on the right onto the orange target areas to build the relevant elasticity formula. Have a go at each in turn. Try to get them right straight away, rather than by trial and error!

Price elasticity of supply

Price elasticity of demand

N.B. A way of remembering this formula is to think of 'dinner (D) on your plate (P)'. In other words demand divided by price.

Income elasticity of demand

Cross elasticity of demand

Price elasticity of demand for exports

Income elasticity of demand for exports