Dear students,
I decided to build something for you.
As we go through Chapter 2 of Business Economics (Foundation – Paper 4), I know that concepts like “Demand Curves” and “Elasticity” can feel a bit abstract when you are just looking at static charts in the textbook. It is one thing to memorize a definition, but it is another thing to actually see how the market moves when prices change.
So, to help us explore these concepts together, I’ve put together an Interactive Demand Lab.
Think of this as a digital companion to our notes. Instead of just reading about how price affects demand, you can actually control the price yourself and watch the graph react.
Here is what you can try out in the tool:
- The Ferrari Test: A quick interactive checklist to help you nail the definition of “Effective Demand” (and why just wanting a car isn’t enough!).
- The “Shift” Simulator: This is really helpful for the tricky part—understanding the difference between a Movement and a Shift. You can use the sliders to see exactly how they look different on the graph.
- The Math Lab: If the Elasticity formulas look intimidating, I’ve included a calculator that breaks down the steps clearly.
You don’t need to install anything; it works right here in your browser.
Please take a few minutes to play around with it. Click the buttons, drag the sliders, and see what happens. It’s a great way to get comfortable with the graphs before we dive deeper into the next unit.
Happy learning,
CA Rajneesh from Superrad Academy