income-consumption curve

Fig. 88 Income-consumption curve. (a) An income-consumption curve for a NORMAL PRODUCT where, as income rises, the demand for the product also rises.

(b) An income-consumption curve for an INFERIOR PRODUCT where, as income rises, buyers purchase less of the product, generally because they can now afford to buy more expensive alternatives.

income-consumption curve

a line that depicts the relationship between consumer INCOME and the quantity of a product demanded (see DEMAND) on a graph. See Fig. 88 . The slope of the income-consumption curve reflects the INCOME-ELASTICITY OF DEMAND, a steeply sloping curve indicating inelastic demand, with small changes in quantity demanded resulting from large changes in income, and vice-versa.

单词	income-consumption curve
释义	income-consumption curve Fig. 88 Income-consumption curve. (a) An income-consumption curve for a NORMAL PRODUCT where, as income rises, the demand for the product also rises. (b) An income-consumption curve for an INFERIOR PRODUCT where, as income rises, buyers purchase less of the product, generally because they can now afford to buy more expensive alternatives. income-consumption curve a line that depicts the relationship between consumer INCOME and the quantity of a product demanded (see DEMAND) on a graph. See Fig. 88 . The slope of the income-consumption curve reflects the INCOME-ELASTICITY OF DEMAND, a steeply sloping curve indicating inelastic demand, with small changes in quantity demanded resulting from large changes in income, and vice-versa.
随便看	statistical change detection statistical cipher feedback statistical clearance liaison officer statistical collection file statistical commission statistical computing statistical continuous automatic leak detection statistical control statistical correlation statistical crack mechanics statistical cryptanalysis statistical data statistical data analysis center statistical data and metadata exchange statistical data base system statistical data recorder statistical decision statistical decision theory statistical dependence statistical design of experiment statistical dispersion statistical distance statistical distribution statistical distributions statistical, economic and social research and training centre for islamic countries