Brainscape's Knowledge GenomeTM

Browse over 1 million classes created by top students, professors, publishers, and experts.


See full index

IB Economics SL Definitions > Chapter 8 - YED > Flashcards

Chapter 8 - YED Flashcards

1
Q

Income elastic demand

A

A small percentage change in income leads to greater percentage change in quantity demanded

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
2
Q

Income inelastic demand

A

When the percentage change in income is large, but the percentage change in quantity demanded is small

How well did you know this?
1
Not at all
2
3
4
5
Perfectly

IB Economics SL Definitions (7 decks)

Brainscape helps you reach your goals faster, through stronger study habits.
© 2024 Bold Learning Solutions. Terms and Conditions