CourseCourseConceptConceptDocsDocuments

IB Economics HL 2.5.7 Income Elasticity of Demand Questions

Practise IB Economics HL 2.5.7 by calculating YED and evaluating how income changes affect demand across sectors and firms using comparative evidence.

Syllabus
First assessment 2022
Course
Economics HL
Level
HL

Exam points

  • Define income elasticity of demand and identify normal, inferior, income-elastic and income-inelastic demand.
  • Calculate YED or the related percentage change from data, interpret the sign and magnitude, and distinguish YED from XED.
  • Analyse and evaluate how changing incomes affect primary commodities, manufactured goods, services and firms using sectoral comparisons, diagrams or real-world evidence.

No Questions Yet

Questions will appear here when available.