The material will start to become less descriptive than earlier chapters and more analytical. Or perhaps you are a little leery. The engineer can measure the degree of flexibility or the elasticity of materials. On the other hand, the beginner can surmise that the same part made from rubber will be very responsive to changes in forces, or that it is elastic. The cause is the change in price and the effect shows up as a change in quantity demanded.
Economists use a relatively simple formula to determine the degree of elasticity.
The absolute size of this coefficient allows the researcher to classify the type of elasticity that is present. The various types of elasticity of demand like perfectly elastic, elastic, unit elastic, inelastic and perfectly inelastic. Make sure that you can associate a number with a type of elasticity. I prefer a reduced form that is much simpler to operate with. That is also called EASY if you have a little pocket calculator, which everyone has.