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Read the case study P63-4 in the Rob Jones textbook. Answer Q1 and 2. For Q3 please add your name and 1 example for each column to the document below
Key Learning Objectives:
Key Learning Objectives:
Definition of income elasticity of demand.
Definition of income elasticity of demand.
Formula of income elasticity of demand.
Formula of income elasticity of demand.
Calculate the income elasticity of demand using given percentage changes in quantity demanded and percentage changes in income
Calculate the income elasticity of demand using given percentage changes in quantity demanded and percentage changes in income
Interpret numerical values of income elasticity of demand that show:
Interpret numerical values of income elasticity of demand that show:
• luxury goods
• luxury goods
• normal goods
• normal goods
• inferior goods.
• inferior goods.
IGCSE Revision Activity for Ch 1-9.pdfPage updated
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