income elasticity
Income elasticity refers to the sensitivity of the quantity demanded or supplied of a product or service to changes in income levels.
Requires login.
Related Concepts (1)
Similar Concepts
- demand elasticity
- economic equality
- economic equilibrium
- economic inequality
- economic productivity
- elasticity
- elasticity coefficient
- elasticity of demand formula
- financial efficiency
- income eligibility
- income equality
- income inequality
- income redistribution
- price elasticity of carbon
- price elasticity of demand and revenue