Examlex
Which of the following identifies how data is represented in a chart?
Income Elasticity
An assessment of the variation in consumer demand for a product or service based on fluctuations in the consumer's income.
Consumer Income
The total income that consumers have available to spend on goods and services, after taxes and other deductions.
Normal Goods
Goods for which demand increases as consumer income rises, and decreases as consumer income falls.
Income Elasticity
A measure of how the demand for a good or service changes in response to changes in consumers' income.
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