DIRECTION: Your task is to describe whether the given examples pertain to any of

the five types (cases) of Elasticity of Demand and Elasticity of Supply. Write

Perfectly Elastic Demand or Supply, Perfectly Inelastic Demand or Supply, Relatively

Elastic Demand or Supply, Relatively Inelastic Demand or Supply, and Unitary

Elastic Demand or Supply.

TASK NO.6: TO BUY OR NOT TO BUY?

DIRECTION: Your task is to mark with a ( ) the pictures below if you are going to

buy it or mark with an ( ) if you are not going to buy it. Cite your reason

correspondingly for your decision.

PRODUCTS ARE YOU GOING TO BUY IT?

YES NO

When the price become higher with 10%

EXAMPLES

1. The price of mobile phones increases by

10%, the quantity of mobile phones

demanded decreases by 10%.

2. Vegetable/ Fruit Vendors in the street are

selling almost the same products with other

vendors. They have to keep an almost same

price to get the demand; if any of them would

increase their price people would tend to

move to another vendor.

3. Consumers tend to buy the same amount of

Gasoline even the price increases.

4. Air-travel for vacationers. An increase in the

air fare will lead the vacationer to choose

another mode of transportation like car or any

available mode of transportation if not it will

lead him/her to postpone the vacation plan

and schedule it until next time.

5. Necessity goods like salt and sugar. It is

difficult to give up consumption of such goods

when their price increases because they are​