INCOME ELASTICITY OF DEMAND
Measures the relationship between a product or service change and real income change, assuming all other factors remain the same. This economics term pertains to the sensitivity of the quantity demanded for a particular product in response to a change in consumers’ incomes. Computed as:
Income Elasticity of Demand = % change in quantity demanded / % change in income
The extent to which the quantity demanded for a product or service changes in response to an income change depends on whether a good or a service is a necessity or luxury.
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ECONOMIC CALENDAR
| Time | Country | Indices | Period |
|---|---|---|---|
| 07:00 | Leading Indicators | Aug | |
| 11:00 | Ifo Business Climate Index | Oct | |
| 11:00 | Ifo Current Assessment | Oct | |
| 11:00 | IFO - Expectations | Oct | |
| 13:00 | CBI retail sales volume balance | Oct | |
| 01:50 | Corporate Service Price Index | Sep | |
| 02:01 | BRC Shop Price Index | Oct | |
| 07:00 | BOJ Core CPI | Sep | |
| 10:00 | Unemployment Rate | 3 quarter |
