Economics GCSE
Income Elasticity of Demand (YED)
What Income Elasticity of Demand (YED) means in Economics GCSE, as defined for Pearson Edexcel.
Definition of Income Elasticity of Demand (YED)
A measure of the responsiveness of quantity demanded to a change in consumer income.
Topics that use Income Elasticity of Demand (YED)
- Elasticity (Pearson Edexcel GCSE)
Related terms
Using Income Elasticity of Demand (YED) in the exam
Definition questions usually carry one or two marks, and examiners look for the precise wording. Write the definition from memory, check it against the version above, and then use the term in a longer answer on the same topic so it sticks.
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