英语词汇“income elasticity of demand”的英英意思、用法、释义、翻译、读音、例句、短语、词组-英语词典

单词	income elasticity of demand
释义	Income Elasticity of Demand Income Elasticity of Demand A measure of whether a good is considered a necessity or a luxury. It is measured as a ratio of the change in demand for a good to the change in consumer income. Demand for a necessity tends to change slowly with changes in income; that is, as consumers become wealthier, they do not necessarily buy more of a necessity because they already have all they need. On the other hand, demand for luxury increases quickly with increases in income, as consumers buy more of a luxury when they become wealthier. See IEOD See IEOD
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Income Elasticity of Demand