Income elasticity of demand definition

Income elasticity of demand means the percentage change in consumption resulting from a one per cent increase in real income;

Examples of Income elasticity of demand in a sentence

  • Income elasticity of demand may be slated in the form of a formula.

  • Income elasticity of demand: Income elasticity of demand shows the change in quantity demanded as a result of a change in income.

  • Income elasticity of demand for tourism at Fulufjället National Park.

  • Income elasticity of demand refers to the percentage change in quantity demanded that results from some percentage change in consumer incomes.

  • Income- elasticity of demand is always positive because of a positive relationship between income and quantity demanded of a product.

  • Income elasticity of demand refers to the degree of responsiveness of change in quantity demanded to a change in income.

  • Income elasticity of demand can be used as an indicator of industry health, future consumption patterns and as a guide to firms investment decisions.

  • Proportionate change in the quantity demand of commodityIncome Elasticity = Proportionate change in the income of the people Income elasticity of demand can be classified in to five types.A. Zero income elasticity: Quantity demanded remains the same, even though money income increases.

  • Income elasticity of demand: The ratio of the percentage change in housing demand to the percentage change in income.

  • Income elasticity of demand means; “The ratio of proportional increase in quantity demanded to proportional increase in income, with all prices held constant”.

Related to Income elasticity of demand

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  • Commercial Shared-Loss Agreement means the Commercial Shared-Loss Agreement attached to the Purchase and Assumption Agreement as Exhibit 4.15B.

  • Peak Demand means the maximum Metered Demand in the last 12 months;

  • L/C Application means an application and agreement for the issuance or amendment of a Letter of Credit in the form from time to time in use by the L/C Issuer.

  • Developed exclusively at private expense means development was accomplished entirely with costs charged to indirect cost pools, costs not allocated to a government contract, or any combination thereof.

  • Pricing and Reimbursement Approval means the approval, agreement, determination or decision from a Regulatory Authority establishing the price and/or reimbursement for Licensed Product for sale in a given country or regulatory jurisdiction of the Territory, as required by Law in such country or other regulatory jurisdiction prior to or subsequent to the marketing and sale of Licensed Product in such country or regulatory jurisdiction of the Territory.

  • Review Demand Date means, for a Review, the date when the Indenture Trustee determines that each of (a) the Delinquency Trigger has occurred and (b) the required percentage of Noteholders has voted to direct a Review under Section 7.2 of the Indenture.

  • Carve-Out Trigger Notice means a written notice delivered by the Administrative Agent or the Required Lenders (which delivery may be made by any electronic method of transmission) to the Borrower and its counsel, the United States Trustee, and lead counsel to any Committee, which notice may be delivered following the occurrence and continuance of an Event of Default, and stating that the Post-Carve-Out Trigger Notice Cap has been invoked.

  • L/C Amendment Application means an application form for amendment of an outstanding standby or commercial documentary letter of credit as shall at any time be in use at the Issuing Lender, as the Issuing Lender shall request.

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  • Certificate of Substantial Completion means the certificate executed by the A/E, ODR and Contractor that documents to the best of A/E’s and ODR’s knowledge and understanding, Contractor’s sufficient completion of the work in accordance with the Contract, so as to be operational and fit for the use intended.

  • Development Application means the development application identified in Item 5 of Schedule 1 and includes all plans, reports models, photomontages, material boards (as amended supplemented) submitted to the consent authority before the determination of that Development Application.

  • Notice to Proceed (NTP) means the authorization issued by the CO to start performance on this Contract.

  • Video-On-Demand or “VOD” means a programming system for transmission and retransmission of a single motion picture or programme (or series of related programs) delivered by means of a telecommunications or other technical system from a digital storage devise or presented in any form that permits Exhibition of such motion picture or programs in a non-linear form at the discretion of the viewer.

  • Marketing Authorization Application or “MAA” means an application to the appropriate Regulatory Authority for approval to sell the Product (but excluding Pricing Approval) in any particular country or regulatory jurisdiction.

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  • Dialing Parity means as defined in the Act. As used in this Agreement, Dialing Parity refers to both Local Dialing Parity and Toll Dialing Parity.

  • Regulatory Approval Application means an application to seek regular or expedited Regulatory Approval of the Licensed Product for sale or marketing in any country(ies) or Region(s) in the Territory, as defined in the applicable Laws and filed with the Regulatory Authority of such country(ies) or Region(s).

  • Application Approval Date means the date that the Application is approved by the Board of Trustees of the District and as further identified in Section 2.3.B of this Agreement.

  • Commercial driver s license" means:

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