ELASTICITY OF DEMAND

B.A. LL.B 1st SEMESTER

Submitted to: Mr. Hari Chand

Submitted by: Ritik Jinata
 SYNOPSIS

SUBJECT:
Elasticity of Demand

TOPIC:
Elasticity of demand -Price, Income, and cross elasticity of demand and its
determinants, importance of elasticity demand

INTRODUCTION:
Price Elasticity of Demand

Introduction
Price Elasticity of Demand (PED) is the responsiveness of quantity
demanded to a change in price . It is the percentage change of
quantity demanded in response to a one percent change in price.
Demand is said to be inelastic where PED is less than one, whereas it
is said to be elastic where PED is greater than one.

PED is almost always negative but often the minus sign is ignored by
economists. Only Giffen goods and Veblen goods have a positive
PED.

OBJECT​:
To study elasticity of demand - Price,income, and cross elasticity of demand and its
determinants, importance of elasticity of demand

OBJECTIVES:

1. To examine elasticity of demand

 2. To determine price,income,and cross elasticity of demand
3. To determine importance of elasticity of demand
4. To examine its determinants and other factors

RESEARCH METHODOLOGY:
The research methodology will be based on doctrinal method. The data will be collected
from secondary sources. Data will be collected, analysed and recommendation will be
made.

RELEVANT DATA:
The data include data will include data from authentic websites and books related to
elasticity of demand and some data from university library

RESEARCH QUESTIONS:
1. WHAT IS ELASTICITY OF DEMAND ?
2.WHAT IS PRICE,INCOME AND ELASTICITY OF DEMAND ?
3.WHAT IS IMPORTANCE OF ELASTICITY OF DEMAND ?

HYPOTHESIS:
This paper seeks to examine elasticity of demand and -price, income, and cross
elasticity of demand and its determinants ,importance of elasticity demand

PROPOSED CHAPTERISATION:
 ➢Summary
➢Objectives
➢Research Methodology
1. Meaning of elasticity of demand
2. Determinants of elasticity
3. Introduction to cross elasticity of demand
4. Importance of elasticity of demand
5. Analysis
6. conclusion

PROPOSED LITERATURE FOR SOURCE:

Online sources :
1. www.googl​e.com
2. https://www.toppr.com/guides/business-economics/theory-of-de
mand/elasticity-of-demand/
3. https://www.tutor2u.net/economics/reference/price-elasticity-of-
demand