More cards in this set

Card 6

Front

In the calculation for YED, what is the numerical value for a unitary income elastic good?

Back

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Card 7

Front

What does income inelastic mean?

Back

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Card 8

Front

In the calculation for YED, what is the numerical value for an income inelastic good?

Back

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Card 9

Front

What are normal goods?

Back

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Card 10

Front

What is the YED value for normal goods

Back

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Card 11

Front

What are inferior goods?

Back

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Card 12

Front

When does the demand for inferior goods rise?

Back

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Card 13

Front

Why is YED important?

Back

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