Economy, asked by DollyMahanta, 4 months ago

What is income elasticity of demand for money??

Answers

Answered by shajahanshameera

Answer:

Income elasticity of demand measures the responsiveness of demand for a particular good to changes in consumer income. The higher the income elasticity of demand in absolute terms for a particular good, the bigger consumers' response in their purchasing habits—if their real income changes.

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