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income effect
The income effect is the change in an individual's or economy's income and how that change will impact the quantity demanded of a good or service.
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Asked 5/27/2014 11:01:51 AM
Updated 5/27/2014 11:22:28 AM
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This answer has been confirmed as correct and helpful.
Confirmed by jeifunk [5/27/2014 11:22:28 AM]
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Questions asked by the same visitor
What happens to most goods and services when there is an increase in price?
Weegy: The quantity demand decrease if most goods and services increase in price. (More)
Question
Expert Answered
Updated 5/27/2014 1:22:45 PM
0 Answers/Comments
Marginal utility is the extra usefulness or satisfaction a person gets from acquiring or using one more unit of a product. Please select the best answer from the choices provided True or FALSE
Question
Not Answered
Updated 8/27/2016 9:37:06 AM
1 Answer/Comment
Marginal utility is the extra usefulness or satisfaction a person gets from acquiring or using one more unit of a product. TRUE.
Added 8/27/2016 9:37:06 AM
This answer has been confirmed as correct and helpful.
Confirmed by jeifunk [8/27/2016 9:46:37 AM]
A product that has few substitutes tends to be: a. elastic c. unit elastic b. inelastic d. a complimentary good
Weegy: A product that has few substitutes tends to be inelastic. (More)
Question|Asked by cflo360
Updated 5/27/2014 1:10:42 PM
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demand
Question
Not Answered
Updated 5/27/2014 11:21:55 AM
1 Answer/Comment
In economics, demand is the utility for a good or service of an economic agent, relative to a budget constraint.
Added 5/27/2014 11:21:55 AM
This answer has been confirmed as correct and helpful.
Confirmed by jeifunk [5/27/2014 11:22:40 AM]
Elasticity is the percentage change in quantity divided by the percentage change in _______. a. incomes b. price c. preferences d. demand
Question|Asked by cflo360
Not Answered
Updated 5/27/2014 12:19:17 PM
1 Answer/Comment
Elasticity is the percentage change in quantity divided by the percentage change in: PRICE.
Added 5/27/2014 12:19:17 PM
This answer has been confirmed as correct and helpful.
Confirmed by jeifunk [5/27/2014 12:22:20 PM]
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