Bread has the same price elasticity of demand as food.

If a 10 per cent increase in student fees results in a 15 per cent drop in student enrolment at university it can be concluded that the demand for university study is elastic.

Producers are interested in the price elasticity of the demand for their product because it indicates what will happen to their total revenue (= P x Q) when the price of the product changes.

Elasticity and slope are not the same.