income elasticity of demand

noun

an economic metric that measures the responsiveness of a quantity demanded for a good to a change in income, calculated as the percent change in demand over the percent change in income

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Meanings

noun
  1. economicsan economic metric that measures the responsiveness of a quantity demanded for a good to a change in income, calculated as the percent change in demand over the percent change in income

Translations

Finnish kysynnän tulojousto
  • kysynnän tulojoustosensitivity of demand to change in price
Cite this entry
APA

income elasticity of demand. (n.d.). In WatkinsX Dictionary. Retrieved November 5, 2026, from https://dictionary.watkinsx.com/word/income%20elasticity%20of%20demand

MLA

“income elasticity of demand.” WatkinsX Dictionary, https://dictionary.watkinsx.com/word/income%20elasticity%20of%20demand. Accessed November 5, 2026.

Chicago

WatkinsX Dictionary, s.v. “income elasticity of demand,” accessed November 5, 2026, https://dictionary.watkinsx.com/word/income%20elasticity%20of%20demand.

Source: income elasticity of demand on Wiktionary, CC BY-SA 4.0.