Income Elasticity of Demand (YED) [ IB Economics SL/HL]

Описание: This video explains how demand for a good changes when incomes change, with special focus on the Engel curve.

0:00 - Defining YED
1:06 - Diagramming YED
1:29 - The Engel Curve: How YED Changes
3:06 - Engel Curve Conclusions
3:59 - Importance of YED for Decision Making

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