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 |
|---|---|---|---|
| 06:30 | Industrial Production | Jul | |
| 08:30 | Producer & Import Prices | Aug | |
| 11:01 | New Yuan Loans | Aug | |
| 14:30 | Consumer Price Index | Aug | |
| 14:30 | Consumer Price Index Core | Aug | |
| 14:30 | Common Core CPI | Aug | |
| 14:30 | Trimmed Core CPI | Aug | |
| 14:30 | Median Core CPI | Aug | |
| 14:30 | Manufacturing Shipments | Jul |
