This is a part of lecture presented by Ms. Varsha Sharma, Asst. Professor of Biyani Girls College. The video is about the elasticity of Demand. The proportionate change in the quantity demand as result of proportionate change in its price is studied in elasticity of demand. It expresses the price and quantity in mathematical form and measure the rate of change. There are five degree of elasticity of demand (1)
Perfectly elastic demand (2) Perfectly inelastic demand (3) Unitary elastic demand (4) Elastic demand (5) Inelastic demand.