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economics > PED,PES,XED,YED > Flashcards

PED,PES,XED,YED Flashcards

1
Q

yed definition

A

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

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2
Q

yed formula

A

% change in income

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3
Q

in most cases YED is….

A

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

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4
Q
A
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economics (33 decks)

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