Income elasticity of demand (YED) measures the responsiveness of demand to changes in income. Demand for normal goods increases as incomes rise and demand for inferior goods decreases as incomes rise.
This pack contains 12 case studies in the style found in Business Studies examinations and coursework tasks. Questions include;
• Calculating YED
• Calculating change in demand
• Calculating change in income
• Explaining impact of income elasticity of demand (YED) for different products
This pack is helpful to any Business Studies course including,
• A Level Business Studies
• IB Business Studies
• BTEC Business Studies
• GCSE Business Studies
How to use this resource;
• Print this out for your students as a quick in class assessment
• Print out for homework or revision material.
• Display it on your whiteboard to save paper
• Upload it to a VLE as part of a home learning programme.
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