What does Income Elasticity of Demand mean?
An economic measure of how much the quantity demanded of a good responds to a change in consumers' income.
Luxury cars have a high Income Elasticity of Demand, as sales increase significantly when consumer incomes rise.
Income Elasticity of Demand in German, French, Spanish and Italian
GermanEinkommenselastizität der Nachfrage
Maß für die Nachfrageänderung bei einer Einkommensänderung.
FrenchÉlasticité-revenu de la demande
Mesure de la sensibilité de la demande face à une variation du revenu.
SpanishElasticidad ingreso de la demanda
Relación entre el cambio en la renta de los consumidores y la cantidad demandada de un producto.
ItalianElasticità della domanda rispetto al reddito
Variazione della quantità domandata rispetto a una variazione del reddito.
Synonyms and opposites for Income Elasticity of Demand
- Synonym Income elasticity