Income elasticity of demand is the degree of responsiveness of quantity demanded of a commodity due to change in consumer’s income, other things remaining constant. In other words, it measures by how much the quantity demanded changes with respect ot the change in income.
Economics, Law of Demand, Determinants of Demand, increase and Decrease in Demand, Extension and Contraction in Demand, Exception of Demand, Assumptions of Demand
The cross-price elasticity of demand is the degree of responsiveness of quantity demanded of a commodity due to the change in price of another commodity.
Economics, Law of Demand, Determinants of Demand, increase and Decrease in Demand, Extension and Contraction in Demand, Exception of Demand, Assumptions of Demand
The cross-price elasticity of demand is the degree of responsiveness of quantity demanded of a commodity due to the change in price of another commodity.
A PowerPoint Presentation about Indifference Curve of Economics. Everyone should know about Indifference Curve. So watch it, download it and make your own from it.
Equilibrium of Firm Under Perfect CompetitionPiyush Kumar
The ppt incorporates lots of animations for clear explanation on graphs and curves, it's better to download it first and then surely you will be cherished with it
Income Elasticity of Demand
Income is an important variable affecting the demand for a good.
When there is a change in the level of income of a consumer, there is a change in the quantity demanded of a good, other factors remaining the same.
A PowerPoint Presentation about Indifference Curve of Economics. Everyone should know about Indifference Curve. So watch it, download it and make your own from it.
Equilibrium of Firm Under Perfect CompetitionPiyush Kumar
The ppt incorporates lots of animations for clear explanation on graphs and curves, it's better to download it first and then surely you will be cherished with it
Income Elasticity of Demand
Income is an important variable affecting the demand for a good.
When there is a change in the level of income of a consumer, there is a change in the quantity demanded of a good, other factors remaining the same.
Its is the power point presentation on the topic demand. it includes various topics like definition of demand, factors affecting demand, law of demand, demand function, expansion-contraction,increase-decrease, price elasticity, income elasticity and cross elasticity. And it is most useful to the students who want to learn the concept of demand.
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A Memorandum of Association (MOA) is a legal document that outlines the fundamental principles and objectives upon which a company operates. It serves as the company's charter or constitution and defines the scope of its activities. Here's a detailed note on the MOA:
Contents of Memorandum of Association:
Name Clause: This clause states the name of the company, which should end with words like "Limited" or "Ltd." for a public limited company and "Private Limited" or "Pvt. Ltd." for a private limited company.
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Registered Office Clause: It specifies the location where the company's registered office is situated. This office is where all official communications and notices are sent.
Objective Clause: This clause delineates the main objectives for which the company is formed. It's important to define these objectives clearly, as the company cannot undertake activities beyond those mentioned in this clause.
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Liability Clause: It outlines the extent of liability of the company's members. In the case of companies limited by shares, the liability of members is limited to the amount unpaid on their shares. For companies limited by guarantee, members' liability is limited to the amount they undertake to contribute if the company is wound up.
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Capital Clause: This clause specifies the authorized capital of the company, i.e., the maximum amount of share capital the company is authorized to issue. It also mentions the division of this capital into shares and their respective nominal value.
Association Clause: It simply states that the subscribers wish to form a company and agree to become members of it, in accordance with the terms of the MOA.
Importance of Memorandum of Association:
Legal Requirement: The MOA is a legal requirement for the formation of a company. It must be filed with the Registrar of Companies during the incorporation process.
Constitutional Document: It serves as the company's constitutional document, defining its scope, powers, and limitations.
Protection of Members: It protects the interests of the company's members by clearly defining the objectives and limiting their liability.
External Communication: It provides clarity to external parties, such as investors, creditors, and regulatory authorities, regarding the company's objectives and powers.
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Binding Authority: The company and its members are bound by the provisions of the MOA. Any action taken beyond its scope may be considered ultra vires (beyond the powers) of the company and therefore void.
Amendment of MOA:
While the MOA lays down the company's fundamental principles, it is not entirely immutable. It can be amended, but only under specific circumstances and in compliance with legal procedures. Amendments typically require shareholder
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Enterprise excellence and inclusive excellence are closely linked, and real-world challenges have shown that both are essential to the success of any organization. To achieve enterprise excellence, organizations must focus on improving their operations and processes while creating an inclusive environment that engages everyone. In this interactive session, the facilitator will highlight commonly established business practices and how they limit our ability to engage everyone every day. More importantly, though, participants will likely gain increased awareness of what we can do differently to maximize enterprise excellence through deliberate inclusion.
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Who might benefit? Anyone and everyone leading folks from the shop floor to top floor.
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3.0 Project 2_ Developing My Brand Identity Kit.pptxtanyjahb
A personal brand exploration presentation summarizes an individual's unique qualities and goals, covering strengths, values, passions, and target audience. It helps individuals understand what makes them stand out, their desired image, and how they aim to achieve it.
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Improving profitability for small businessBen Wann
In this comprehensive presentation, we will explore strategies and practical tips for enhancing profitability in small businesses. Tailored to meet the unique challenges faced by small enterprises, this session covers various aspects that directly impact the bottom line. Attendees will learn how to optimize operational efficiency, manage expenses, and increase revenue through innovative marketing and customer engagement techniques.
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Sustainability has become an increasingly critical topic as the world recognizes the need to protect our planet and its resources for future generations. Sustainability means meeting our current needs without compromising the ability of future generations to meet theirs. It involves long-term planning and consideration of the consequences of our actions. The goal is to create strategies that ensure the long-term viability of People, Planet, and Profit.
Leading companies such as Nike, Toyota, and Siemens are prioritizing sustainable innovation in their business models, setting an example for others to follow. In this Sustainability training presentation, you will learn key concepts, principles, and practices of sustainability applicable across industries. This training aims to create awareness and educate employees, senior executives, consultants, and other key stakeholders, including investors, policymakers, and supply chain partners, on the importance and implementation of sustainability.
LEARNING OBJECTIVES
1. Develop a comprehensive understanding of the fundamental principles and concepts that form the foundation of sustainability within corporate environments.
2. Explore the sustainability implementation model, focusing on effective measures and reporting strategies to track and communicate sustainability efforts.
3. Identify and define best practices and critical success factors essential for achieving sustainability goals within organizations.
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1. Introduction and Key Concepts of Sustainability
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What are the main advantages of using HR recruiter services.pdfHumanResourceDimensi1
HR recruiter services offer top talents to companies according to their specific needs. They handle all recruitment tasks from job posting to onboarding and help companies concentrate on their business growth. With their expertise and years of experience, they streamline the hiring process and save time and resources for the company.
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Putting the SPARK into Virtual Training.pptxCynthia Clay
This 60-minute webinar, sponsored by Adobe, was delivered for the Training Mag Network. It explored the five elements of SPARK: Storytelling, Purpose, Action, Relationships, and Kudos. Knowing how to tell a well-structured story is key to building long-term memory. Stating a clear purpose that doesn't take away from the discovery learning process is critical. Ensuring that people move from theory to practical application is imperative. Creating strong social learning is the key to commitment and engagement. Validating and affirming participants' comments is the way to create a positive learning environment.
2. Definition
Other things remaining the same, it
is degree of responsiveness of
quantity demanded of a commodity
due to change in consumer’s income
3. In other words
Income Elasticity of Demand measures
by how much the quantity demanded
changes with respect to the change in
income.
4. Mathematical Expression
Where,
EY = Elasticity of demand
q = Original quantity demanded
∆q = Change in quantity demanded
y = Original consumer’s income
∆y = Change in consumer’s income
5. Practical Example
Suppose that the initial income of a person is
Rs.2000 and quantity demanded for the
commodity by him is 20 units.
When his income increases to Rs.3000,
quantity demanded by him also increases to
40 units.
Find out the income elasticity of demand.
6. Solution
Here, q = 100 units
∆q = (40-20) units = 20 units
y = Rs.2000
∆y = Rs. (3000-2000) =Rs.1000
Hence, an increase of Rs.1000 in
income i.e. 1% in income leads to
a rise of 2% in quantity
demanded.
7. Types of Income Elasticity of demand
1. Positive income elasticity of demand
(EY>0)
– Income elasticity greater then unity (EY > 1)
– Income elasticity equal to unity (EY = 1)
– Income elasticity less then unity (EY < 1)
2. Negative income elasticity of demand
( EY<0)
3. Zero income elasticity of demand ( EY=0)
8. 1. Positive income elasticity of demand
(EY>0)
If the quantity demanded for a commodity
increases with the rise in income of the
consumer and vice versa, it is said to be
positive income elasticity of demand.
For example:
As the income of consumer increases, they
consume more of superior (luxurious) goods.
9. Income elasticity greater then unity
(EY > 1)
Percentage change in
quantity demanded for a
commodity is greater
than percentage change
in income of the
consumer, it is said to be
income greater than
unity
10. Income elasticity equal to unity
(EY = 1)
Percentage change in
quantity demanded for a
commodity is equal to
percentage change in
income of the consumer
11. Income elasticity less then unity
(EY < 1)
Percentage change in
quantity demanded for a
commodity is less than
percentage change in
income of the consumer
12. 2. Negative income elasticity of
demand ( EY<0)
Quantity demanded for a
commodity decreases
with the rise in income of
the consumer and vice
versa
13. 3. Zero income elasticity of demand
( EY=0)
Quantity demanded for a
commodity remains
constant with any rise or
fall in income of the
consumer
14. • To learn more visit
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