Lesson Plan

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Lesson Plan
Grade: Date: 17/01/2026
Subject: Economics
Lesson Topic: Main influences on whether demand is elastic or inelastic
Learning Objective/s:
  • Describe the factors that influence the price elasticity of demand.
  • Explain how elasticity affects revenue and resource‑allocation decisions.
  • Analyse real‑world examples to determine whether demand is elastic or inelastic.
  • Apply the PED formula to calculate elasticity for given data.
  • Evaluate policy implications of elastic versus inelastic demand.
Materials Needed:
  • Projector or interactive whiteboard
  • Slide deck on PED factors
  • Handout with summary table of influences
  • Calculator worksheets for PED calculations
  • Sample product price scenario cards
  • Exit‑ticket slips
 Introduction:
Begin with a quick poll: “If the price of your favourite snack doubled, would you still buy it?” This activates prior knowledge about price sensitivity and sets the stage for exploring why reactions differ. Today we will identify the key influences on demand elasticity and use them to predict revenue outcomes.
Lesson Structure:
  1. Do‑now (5’) – students answer the poll and record responses on sticky notes (check understanding).
  2. Mini‑lecture (10’) – present definition of PED, the formula, and a simple calculation example.
  3. Interactive table activity (15’) – groups examine the influence table, match real‑world products to each factor, and discuss why elasticity changes.
  4. Calculation practice (10’) – students compute PED from provided price‑quantity data and classify elasticity.
  5. Implications discussion (10’) – whole‑class debate on how firms and governments use elasticity for pricing, taxes, and investment.
  6. Quick recap quiz (5’) – Kahoot or exit‑ticket with three key questions.
Conclusion:
Summarise that the availability of substitutes, income share, market definition, time horizon, nature of the good, brand loyalty and durability shape elasticity. Ask students to write one real‑life example of an elastic and an inelastic good as an exit ticket. For homework, assign a short worksheet calculating PED for a chosen product and reflecting on policy implications.