Sports GK Questions and Answers 2024 (Latest Updated)

Awards & Honours GK Questions 2024 (Latest Updated)

Question

Income elasticity of demand is defined as the responsiveness of

A Quantity demanded to a change in income
B Quantity demanded to a change in price
C Price to a change in income
D Income to a change in quantity demanded

Answer & Explanation

Answer: Quantity demanded to a change in income

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