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Edexcel A-Level Economics AS 1.3.2 3a Concepts of Price Income and Cross Elasticities of Cross Elasticities Demand of Questions

Distinguish price, income and cross-elasticities by the variable that changes, and define income elasticity precisely as a response of quantity demanded rather than relying on examples.

Syllabus
First assessment 2019
Course
Economics YEC11
Level
AS

Exam points

  • Define income elasticity of demand as the responsiveness of quantity demanded to a change in income

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