More cards in this set

Card 6

Front

What is derived demand?

Back

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Card 7

Front

What is composite demand?

Back

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Card 8

Front

What is the price elasticity of demand? (PED)

Back

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Card 9

Front

What does a PED greater than 1 suggest?

Back

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Card 10

Front

What does a PED between 0 and 1 suggest?

Back

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Card 11

Front

What does a PED of 1 suggest?

Back

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Card 12

Front

What is income elasticity of demand? (YED)

Back

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Card 13

Front

What is cross elasticity of demand? (XED)

Back

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Card 14

Front

What is the formula for XED?

Back

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Card 15

Front

What is supply?

Back

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