Thursday, April 23, 2009

Videos: Elasticity of Demand

Some videos used or mentioned in the H2 lectures

Learn Price Elasticity of Demand (PED) from the contrasting examples of Pedro the fishmonger and the Island ferry company.

Application of Price Elasticity of Demand and Cross Elasticity of Demand - Fake Disneyland in Beijing? Is this a close substitute to the "real thing"? Should the "real" Disneyland in Hong Kong differentiate itself from this amusement park? Why and why not? What strategies can they employ to tackle the challenge posed by other amusement parks such as this one?

Income Elasticity of Demand - Look at how luxury goods are affected by the global economic downturn. What determines the impact of the recession on a particular product?