Lesson Plan

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Lesson Plan
Grade: Date: 17/01/2026
Subject: Business
Lesson Topic: calculation of price, income and promotional elasticity of demand
Learning Objective/s:
  • Calculate price, income, and advertising elasticity using percentage‑change formulas.
  • Interpret elasticity values to classify demand (elastic, inelastic, unitary, normal, inferior, luxury or necessity).
  • Apply a systematic checklist to solve exam‑style elasticity questions accurately.
Materials Needed:
  • Projector and screen for slides
  • Whiteboard and markers
  • Calculator worksheets with practice data sets
  • Handout summarising formulas and interpretation guide
  • Sample product scenarios (smartphone, coffee shop, advertising campaign)
 Introduction:
Begin with a quick poll: “What would happen to sales if a popular phone’s price drops 10%?” Connect this to students’ prior work on percentage change. Explain that today they will master calculating and interpreting three key elasticities, and will be assessed by completing a short exit ticket and a practice exam question.
Lesson Structure:
  1. Do‑now (5') – 3 rapid %‑change questions on the board.
  2. Mini‑lecture (10') – Define elasticity, present PED, YED, AED formulas and interpretation tables.
  3. Guided example (10') – Work through the smartphone PED calculation step‑by‑step.
  4. Paired practice (15') – Students calculate YED for the coffee shop and AED for the advertising campaign using the handout.
  5. Checklist application (10') – In groups, answer an exam‑style question, explicitly following the 6‑step checklist.
  6. Exit ticket (5') – Write one sentence summarising the most important insight about elasticity learned today.
Conclusion:
Recap the three elasticity types and their real‑world implications. Collect exit tickets to gauge understanding and assign homework: complete a worksheet with three new elasticity problems. Remind students to review the checklist before the next assessment.