Question

how does the slope of a supply or demand curve diff from elasticity of supply or demand?

Answer 1

Slope of supply or demand,  is reflected as the ratio of difference in values at two points of price and quantity, but elasticity is the ratio of % change in quantity and price. Further, slope considers the units assigned to  price and quantity, but elasticity of demand or supply, does not consider the units of price and quantity. Rather, it only considers the % change in price and quantity. Hence, slope is different from that of the elasticity  whether it is demand and supply.