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Meaning of income elasticity of demand | Babel Free

Noun CEFR C2

Definitions

an economic metric that measures the responsiveness of a quantity demanded for a good to a change in income, calculated as the percent change in demand over the percent change in income

CEFR level

C2
Mastery
This word is part of the CEFR C2 vocabulary — mastery level.

See also

income group income poverty income statement income suite income support income tax

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