PED,PES,XED,YED Flashcards
1
Q
yed definition
A
how responsive demand for a good is to a change in income
2
Q
yed formula
A
% change in income
3
Q
in most cases YED is….
A
positive (normal/luxury goods)
income up,demand up
income down, demand down
4
Q
A
5
Q
A