Income Elasticity of Demand

examines measurements of how demand for a good can change following a change in income

Category:

Education

Tags:

• economics
• income
• elasticity
• demand
• supply
• business
• marketing
• management
• holden
• alevel
• a-level
• curve
• normal
• inferior

[yesyes673]

Thanks a lot for the help!, i just have 1 question: Why do you use a `Y` as symbol for `Income` and not an `I` ?

[pajholden]

@yesyes673 hello - by convention, I is used for Investment.

[lilcaporista]

You should teach other teachers how to teach lol

[mishterpreshident]

Brilliant instruction, sir! My microeconomics professor uses your videos pretty heavily, and I have to say I've probably come away with more "ah hah" moments thanks to you than I have from my own professor.

[kaylasok]

I am a freshman in college in an intro to economics class and your videos are so so so helpful!! thank you so much!

[mattdyton]

aha thanks so much

[TheTrueBeliever92]

so are inferior goods like substitues?

[CIsabelle0594]

I have shared your videos with, basically my whole grade! I bet all of us will pass our IB exams in 2013!!! Thanks for the efforts! -

[yaba3050]

I love how you say thanks at the end, instead or you're welcome! You are an amazing teacher!

[yugioh7847]

last minute revision anyone

[kayss94]

@yesyes673 'I' is used for investment

[xMATHIEx]

why do you use (y/q) x (change q) / (change y) instead of (%change qd) / (%change income)

[xMATHIEx]

@SingerTiana that doesnt answer the question