What is positive income elasticity?
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Positive Income Elasticity of Demand: Refers to a situation when the demand for a product increases with increase in consumer's income and decreases with decrease in consumer's income
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Hey mate here is your answer....
A positive income elasticity of demand is associated with normal goods; an increase in income will lead to a rise in demand. If income elasticity of demand of a commodity is less than 1, it is a necessity good. If the elasticity of demand is greater than 1, it is a luxury good or a superior good.
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