ECO 202
 Module 1 - Course Objectives

 Elasticities of 
 Demand and Supply

 5.1   Define, explain the factors that influence, and calculate the price elasticity of demand.

 5.2   Define, explain the factors that influence, and calculate the price elasticity of supply.

 5.3  Define and explain the factors that influence the cross elasticity of demand and
the income elasticity of demand.

Assessment  Method

A.  Do the Self-Test questions in your Study Guide as if they were real exam questions, which means do them without looking at the answers. 

B.  You will learn the most from right answers you had to struggle for, and from your wrong answers and mistakes.  Only after you have attempted all the questions should you look at the answers in your Study Guide. 

C.  When you check your answers, be sure to understand where you went wrong and why the right answer is correct.

Take Self-Test 5.1, and Self-Test 5.2, and Self-Test 5.3  in your Study Guide before taking Exam #1.