Lesson Plan

• Describe the concept of price, cross‑price, income, and supply elasticity.
• Calculate elasticity coefficients using the midpoint method.
• Interpret elasticity values to determine appropriate marketing actions.
• Apply elasticity analysis to make pricing or product‑mix decisions.
• Evaluate how changes in market conditions can shift elasticity over time.

• Projector and screen
• Whiteboard and markers
• Calculator or spreadsheet software
• Handout with elasticity formulas and interpretation table
• Sample data set for a price‑elasticity calculation
• Sticky notes for group brainstorming

Begin with a quick poll asking students how they think price changes affect sales, then link their ideas to the concept of elasticity. Review briefly what they already know about demand‑price relationships. Explain that today they will learn to interpret elasticity results to guide real marketing decisions.

1. Do‑now (5') – short quiz on definitions of elasticity types.
2. Mini‑lecture (10') – present the four main elasticities and the midpoint formula using projected slides.
3. Guided practice (15') – students work in pairs to calculate PED from the provided sample data; teacher circulates to support.
4. Interpretation activity (10') – groups match their coefficient to the interpretation table and propose a marketing action.
5. Whole‑class debrief (5') – discuss each group’s recommendation and clarify common misconceptions.
6. Exit ticket (5') – each student writes one way elasticity could influence a future pricing strategy.

Recap the steps from calculation to interpretation and highlight how elasticity informs pricing, promotion, and product decisions. Collect exit tickets as a retrieval check and assign homework: analyse the elasticity of a product of their choice using real‑world data.