income elasticity of demand
Technical economics term; measures how demand for a good changes in response to a change in consumer income.
Goods with high income elasticity of demand are easily affected by economic conditions.
In this report, we analyzed the income elasticity of demand for each product.
Price elasticity of demand; measures responsiveness to price changes, while 需要の所得弾力性 measures responsiveness to income changes.
Compound of 需要 (demand), 所得 (income), and 弾力性 (elasticity). A direct translation of the English economics term.