Theory of elasticity and plasticity full notes ebook free download pdf there are various elastic moduli, such as youngs modulus, the shear modulus, and the bulk modulus, all of which are measures of the inherent stiffness of a material as a resistance to deformation under an applied load. As the distance between pd 1 and pd is the same, it is unit elastic i. Download all acca course notes, track your progress, access mock exams, option to buy premium content and. Students can refer to economics a singapore perspective for the diagrams. For the same material, the three coefficients of elasticity. Compensated and uncompensated labor elasticities play a key role in studies of optimal income taxation. Coefficient of elasticity depends upon the material, its temperature and purity but not on stress or strain. The book is available in the major bookstores in singapore. If the % change in demand the % change in price, then price elasticity 1. Scott school of mathematics, university of east anglia, norwich, nr4 7tj. Law of demand and elasticity of demand 29 elasticity of demand it answers the question by how much.
If a curve is less elastic, then it will take large changes in price to effect a change in quantity consumed. Exy % change in quantity demanded for y% change in price x exy. This course continues along the same line and extends on it. We are interested to find the best choice for a consumer that has a limited. Generally, there are three types of elasticity of demand. If neils elasticity of demand for hot dogs is constantly 0. Elasticity is independent of the units used to measure price and quantity. Note that because the water surface curves up near the glass slide the.
Elasticity allows us to compare the demands for different goods. Stress nine quantities are required to define the state of stress at a point. Students generally mix up slope and elasticity even though many. Find materials for this course in the pages linked along the left. This is possible only when you have the best cbse class 11 physics study material and a smart preparation plan. Today add elasticity and slope, cross elasticities. Elastic limit is the upper limit of deforming force upto which, if deforming force is removed, the body regains its original form completely and beyond which if deforming force is increased the body loses. Estimating elasticity a constantelasticity demand function can be written as q ap. Elasticity of demand and supply will be taught in economics tuition in the fourth and fifth weeks of term 1.
Elasticity of demand is defined as the responsiveness of the quantity demanded of a good to change on one of the variables on which demand depends. Perfect for acing essays, tests, and quizzes, as well as for writing lesson plans. An example of products with an elastic demand is consumer durables. If the commodities are substitutes, cross elasticity.
This module outlines the basic mechanics of elastic response a. The most common one used is the einstein convention. Economics lecture notes chapter 3 elasticity of demand and supply will be taught in economics tuition in the fourth and fifth weeks of term 1. Elasticity of demand is the ratio of two percentages and so elasticity is a number with no units. During the compilation of these lecture notes, the. Jun 04, 2019 elasticity of demand cbse notes for class 12 micro economics. For general help, questions, and suggestions, try our dedicated support forums. With thanks to steve senturia, from whose lecture notes. Total revenue decreases when price is reduced, and increases when price is increased. Note that this force is a function of the deformation \delta l it is not. Market assessment and analysis elasticity of supply and demand elasticity is the percentage change in one thing relative to a percentage change in another. The objective is to provide you with a pricing toolbox, i. Supply and demand response and elasticities the price elasticity of supply measures how responsive the market it is to price changes. In this lesson, well discuss elasticity in economics, including its definition, the different types of elasticity, and their effect on the business market.
Jane helena theory of elasticity and plasticity is designed as a textbook for both undergraduate and postgraduate students of engineering in civil, mechanical and aeronautical disciplines. Elasticityelasticity is the property by virtue of which a body regains its original size and shape after the removal of deforming force is called elasticity and the deformation caused is called elastic deformation. Elasticity of a function of a single variable before we meet this guest, let us spend a bit of time with a slightly simpler notion, the elasticity of a a function of a single variable. Elasticity of demand varies from point to point on a demand curve. Lecture notes mechanics and materials ii mechanical.
Price elasticity of 1 will mean that the % change in demand offsets the % change in price, leaving total sales revenue unchanged. Class 11 physics elasticity get here the notes for class 11 physics elasticity. Price elasticity of demand for agricultural products oranges is 0. A material is said to be elastic if it deforms under stress e g external elastic modulus under stress e. Cbse notes cbse notes micro economics ncert solutions micro economics. These are found at temperatures greater than that of solids and liquids. Elasticity of demand the midterm 1 practice exam will be posted on course website classes exams on wednesday evening. Elasticity measures how one variable responds to a change in an other variable, namely the percentage change in one variable resulting a one percentage change in another variable. The fourth state of matter in which the medium is in the form of positive and. The goal of the class is to provide an introduction to the theory of elasticity, plasticity and fracture and their applications. Elasticity of demand cbse notes for class 12 micro economics. To understand macroscopic systems that flow or deform. As we move downwards along the curve dd 1 from the midpoint, say point p 2, elasticity declines.
This set of rules states that every index that is repeated once in a product implies a. Every year there are 12 questions asked from this topic. Lecture notes on elasticity of substitution ted bergstrom, ucsb economics 210a october 26, 2015 todays featured guest is \the elasticity of substitution. In such cases, there is a bulk modulus b of elasticity. Elasticity is that property of the object by virtue of which it regain its original configuration after the removal of the deforming force.
The theory and solution methods are then applied to microscopic defects in solids, their stress fields and interaction with each other. Theory of elasticity and plasticity full notes ebook free. Law of demand and elasticity of demand 31 price elasticity of demand it is measured as a percentage change in quantity. Apr 22, 2019 elasticity is that property of the object by virtue of which it regain its original configuration after the removal of the deforming force. Analytic and numerical tools will be developed to solve elasticity problems. Pdf the concept of elasticity in economics is taught mostly in secondary education. Types of elasticity of demand price elasticity income elasticity cross elasticity. If youre having any problems, or would like to give some feedback, wed love to hear from you. Let us make an indepth study of elasticity of demand.
Almost all real materials will undergo some permanent deformation, which remains after removal of load. The more elastic a good is, the more quantity demanded will increase relative. Cbse notes class 11 physics elasticity aglasem schools. Pdf a note on illustration of elasticity researchgate. We will use the same formula, plug in what we know, and solve from there. Elasticity refers to the degree of responsiveness in supply or demand in relation to changes in price. Cross elasticity may be positive or negative, depending on the relationship between the two commodities. Volume stress f a b volume strain v v the bulk modulus is negative because of decrease in v. We will discuss two major methods for solving elasticity equations. Learn exactly what happened in this chapter, scene, or section of elasticity and what it means. Influences on the price elasticity of demand fall into two. Lecture notes elasticity of microscopic structures. Rubber band elasticity the concept of elasticity, as used in economics, is quite similar to the concept as applied to.
The bulk modulus is negative because of decrease in v. Candidates who are ambitious to qualify the class 11 with good score can check this article for notes. Introduction topic 2 established the di rection of changes in demand and supply to a change in price a further question is the size of the change elasticity measures the sensitivity or. This is a numerical based chapter on elasticity of demand, price elasticity of demand and its measurements, also discussing the factors affecting it. Me340a theory and applications of elasticity lecture notes. Pdf theory of elasticity lecture notes majid mirzaei. The law of demand indicates the direction of change in quantity demanded to a change in price. In the second part of the section we will study the context of labor supply choices in a static and dynamic framework. Introduction topic 2 established the di rection of changes in demand and supply to a change in price a further question is the size of the change elasticity measures the sensitivity or responsiveness of these changes definition elasticity measures the change in one variable in response to a change in another variable. Notes, exercises, videos, tests and things to remember on concept of elasticity of demand. Ep 1 indicates that the good is price elastic, perhaps because the.
Market assessment and analysis elasticity of supply and. Anything which possesses mass and occupies space is called matter. Elasticity ielasticity i elasticity is a branch of physics which studies the properties of elastic matil a tili idterials. Revision notes on deformable bodies and elastic deformation mechanical properties of solids. For example, the elasticity of demand for latte is 2. Note that a change in price results in a large change in quantity demanded. Julies elasticity of demand is inelastic, since it is less than 1. So if a frost cuts the supply of oranges and demand. Lecture 4 agsm2004 page 22 price elasticity of supply only for pricetaking suppliers monopolists do not have supply cur ves. Elasticity of demand describes the responsiveness of quantity demanded of a good relative to a small change in price.
The material in the current presentation is still meant to be a set of lecture notes, not a text book. Elasticity for isotropic solids equations that relate stresses to strains are. United kingdom 1 introduction in a solid material e. Elasticities of demand outline 1 price elasticity of demand mit. Lecture notes on elasticity of substitution ted bergstrom, ucsb economics 210a march 3, 2011 todays featured guest is \the elasticity of substitution. Price elasticity of demand ep income elasticity of demand ey. Gce alevel, ib hl, edexcel a2, ocr, aqa, eduqas, wjec elasticity refers to the extent which the quantity supplieddemanded of a good change, in relation to other factors e. This time, we are using elasticity to find quantity, instead of the other way around. Cross price elasticity definition substitutes and complements 4. Fluids and elasticity in this chapter we study macroscopic systems. Price elasticity of demand is usually a negative number. The coefficient that relates a particular type of stress to the strain that results is called an elastic modulus plural, moduli. If a curve is more elastic, then small changes in price will cause large changes in quantity consumed.
July 2012 these lecture notes cover a number of topics related to strategic pricing. This book has been written with the objective of bringing the concepts of elasticity and plasticity to the students in a simplified and comprehensive. Demand can be classified as elastic, inelastic or unitary. We are interested to find the best choice for a consumer that has a limi. The below mentioned article provides study notes on cross elasticity of demand. The more elastic demand is, the more responsive it is to price changes. Stress and strain college physics bc open textbooks.
Properties of solids and liquids is an important topic from jee main jee advanced exam point of view. The purpose of this section is to develop some general rules about elasticity, which may them be applied to the four different specific types of elasticity discussed in more detail below. It can provide valuable information with regards to the relationship between goods e. Market assessment and analysis elasticity of supply and demand. Download properties of solid liquid and gas notes pdf for jee main preparation. The price elasticity of demand measures the magnitude by which consumers change the quantity demanded in response to a change in the price of the product. The rst draft of these notes was produced in 1987 and they have been corrected, re ned and expanded on every following occasion that i taught these classes. Elastic demand e lasticity of demand is an important variation on the concept of demand. Dec 24, 2019 class 11 physics elasticity get here the notes for class 11 physics elasticity.
670 816 344 1213 323 673 795 1046 146 1129 1313 185 1435 561 989 865 1069 1158 1050 689 193 484 1113 1340 1406 444 1304 1106 1396 733 85 906 1181 901