PED,PES,XED,YED Flashcards

1
Q

yed definition

A

how responsive demand for a good is to a change in income

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

yed formula

A

% change in income

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

in most cases YED is….

A

positive (normal/luxury goods)
income up,demand up
income down, demand down

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