Unit 3.3: Price elasticity of demand
This page also looks at the marketing mix or the 4 Ps of marketing, with a focus on the second element of the mix, price and price elasticity of demand. Lesson time: 60 minutes Lesson objectives: In this lesson students will learn to understand the significance of price elasticity and its importance of the concept in pricing decisions. 1. Opening activity - Start with the opening activity, focusing on PED [10...