Income elasticity of demand is defined as the responsiveness of:

Related MCQs

• Demand for a commodity refers to:
• If the demand for a good is inelastic, an increase in its price will cause the total expenditure of the consumers of the good to:
• Demand for factors of production is:
• The producer’s demand for a factor of production is governed by the ___ of that factor.
• If all other factors remain equal, the higher the price of a good, the fewer people will demand that good means what?
• The total demand for goods and services in an economy is known as
• Identify The Three Motives Of Money Demand:
• When national income is calculated with reference to a base year, it is called:
• Which among the following are the factors that determine the national income of a country?
• What is Disposable Personal Income?