1. We have studied several ways in which elasticity is measured in economics. The concept can be used to study other relationships between two thingsalong as each is measurable and they affect one another.. The importance is that elasticity allows us to put a number on the relative way in which one thing affects the other. Is it a positive effect? How strong is that effect?

Think of two things you know about in your life. It could be from your work life, your hobbies, or your home life. Just please don't use anything that involves prices or the example of your grades and study time as we used in class.

How would you measure elasticity between these two things? Be specific about the units used. Would you expect the elasticity to be positive or negative? Why? Will the elasticity be greater or less than 1 (or -1)? Why?