Elasticity of demand (supply) when the price of a good changes, keeping all other variables and goods separate.
Change of demand (supply) that occurs due to change in price of substitutes or complements.
Measurement of change in quantity demanded (supplied) which indicates the sensitivity of one variable to characteristics of another variable or income.
An economic measure of change in relation to income and demand for normal, inferior and luxury goods.
A good that offers better quality and features which is consumed when income rises.
Goods for which demand increases as income increases.
Goods for which demand decreases as income increases.