Meaning Income-inelastic demand
What does Income-inelastic demand mean? Below you find one meaning for the word Income-inelastic demand You can also add a definition of Income-inelastic demand yourself
1 |
0
0
Income-inelastic demandA good has an income-inelastic demand when the quantity consumed is not very sensitive to changes in income. More specifically, it refers to the situation where a one percent increase in income causes [..]
|
| << Income-elastic demand | Large-country assumption >> |