Business
Income Elasticity of Demand
Author
Devonport High School for Boys (DHSB)
Target Group
14-16 year old students
Brief Description
What happens to income during a recession? What goods do people buy more of in a recession? What do people buy less of in a recession?

Share
  • What happens to income during a recession?
  • What goods do people buy more of in a recession?
  • What do people buy less of in a recession?


By the end of the session you will be able to:

  • Define Income Elasticity of Demand (YED)
  • Calculate YED
  • Interpret YED
  • Explain the factors influencing YED
  • Analyse the Impact and importance of YED to businesses
  • Make a link between PED and total revenue

Related files

INCOME elasiticty of DEMAND 2 MB
If you have tried out a lesson, please fill the next form to help us to improve it:

Open the form