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infoWhy this? Firms, Consumers and Elasticities of Demand is taught because it develops an understanding of how consumers respond to changes in prices, income, and marketing activities. Students explore elasticity measures and pricing strategies, enabling them to analyse how businesses make decisions about pricing, output, promotion, and market positioning. Firms, Consumers and Elasticities of Demand also helps students evaluate how firms can increase revenue and compete effectively by responding to changing consumer behaviour and market conditions.

scheduleWhy now? Firms, Consumers and Elasticities of Demand is taught after Business Growth and Competitive Advantage because students have already explored how firms compete and grow in different markets. This unit builds on that understanding by introducing the quantitative tools businesses use to predict consumer responses to changes in prices, income, and marketing strategies. Firms, Consumers and Elasticities of Demand strengthens students’ analytical skills and provides essential concepts that support later study of market structures, business strategy, and economic decision-making.