ELASTICITY OF DEMAND

INCOME ELASTICITY OF DEMAND

SS 2 Economics (1st, 2nd & 3rd Term), Economics
Mrs. Essien

Income elasticity of demand is the degree of responsiveness of quantity demanded of a commodity to a little change in consumer’s income. That is, it measures how changes in income… Read More »INCOME ELASTICITY OF DEMAND

ELASTICITY OF DEMAND

SS 2 Economics (1st, 2nd & 3rd Term), Economics
Mrs. Essien

DEFINITION OF ELASTICITY OF DEMAND Elasticity of demand may be defined as the degree of responsiveness of demand as changes in price, income, prices of other commodities etc. Types… Read More »ELASTICITY OF DEMAND