Income of Elasticity 0.0 / 5 ? BusinessIncome Elasticity of Demand ASEdexcel Created by: charlottemay27Created on: 05-04-16 21:03 Discretionary Expenditure non-essential spending or spending that is not automatic 1 of 5 Income elastic demand the percentage change in demand for a product is proportionately greater than the percentage change in income 2 of 5 Income elasticity of demand the responsiveness of demand to a change in income 3 of 5 Income inelastic demand there the percentage change in demand is proportionately less than the percentage change in income 4 of 5 Product Switching manufactures have flexible resources and can switch from the production of one good to another 5 of 5
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