Income Elasticity of Demand | SS3 Economics

Overview

Understanding the income elasticity of demand - Money and Inflation/Deflation

Lesson details

Class: SS3
Subject: Economics
Theme: Money And Inflation/Deflation
Duration: 30:12

What you'll learn

Definition of Income Elasticity of Demand
Differences between Normal goods and Inferior goods
Differences between Luxury goods and necessity goods
How to calculate income elasticity of demand

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