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Income Elasticity of Demand
EdExcel Economics 1.2.3
What is Income Elasticity of Demand?
• The formula for calculating income elasticity of demand (YED) is
• % change in quan...
Measures of Income in the UK Economy
90
92
94
96
98
100
102
104
106
2007
Q1
Q2 2008
Q1
Q2 2009
Q1
Q1 2010
Q1
Q1 2011
Q1
Q4...
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