1.2.5 YED Flashcards by Thomas Kud | Brainscape

Q

What is YED?

A

Measures the responsiveness of demand to a change in income.

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Q

What are four factors affecting YED?

A

Whether the good is a necessity or luxury
Level of income of consumer
Standards of living
Economic cycle

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Q

What is the Coefficient of YED?
Place Inferior, Necessity and luxury.

A

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