Lesson Plan

• Describe the four main elasticity measures and their formulas.
• Explain how elasticity values influence pricing, product, promotion, and market decisions.
• Apply elasticity calculations to a real‑world scenario and interpret revenue implications.
• Evaluate strategic choices using a decision‑guidance table.

• Projector and screen
• Whiteboard and markers
• Student worksheets with elasticity formulas and case study
• Calculators or spreadsheet software
• Printed decision‑guidance table
• Sticky notes for group brainstorming

Begin with a quick poll: “If the price of your favourite coffee drops, would you buy more?” This activates prior knowledge of price sensitivity and sets the stage for exploring elasticity. Students will learn to identify which elasticity measures apply to different business decisions and demonstrate this through a worked example.

1. Do‑now (5’) – Students answer the poll on sticky notes and discuss price sensitivity.
2. Mini‑lecture (10’) – Review PED, YED, XED, ES formulas and interpretation using projected slides.
3. Guided practice (12’) – Work through the provided worked example, calculate PED, and discuss revenue impact.
4. Group activity (15’) – Teams analyze a case handout, match elasticity values to strategic decisions, and fill a decision‑guidance table.
5. Check for understanding (8’) – Quick quiz (Kahoot) covering key concepts; teacher reviews answers.

Summarise how each elasticity measure informs specific business strategies and revisit the poll results to see how understanding changed. For exit, students write one actionable insight they would give a manager based on an elasticity reading. Homework: complete a short worksheet calculating YED and XED for a chosen product.