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INCOME ELASTICITY OF DEMAND: The relative response of a change in demand to a relative change in income. More specifically the income elasticity of demand can be defined as the percentage change in demand due to a percentage change in buyers' income. The income elasticity of demand quantitatively identifies the theoretical relationship between income and demand.
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INDUCED SAVING Household saving that depends on income or production (especially disposable income, national income, or even gross domestic product). That is, changes in income induce changes in saving. Induced saving reflects the fundamental psychological law put forth by John Maynard Keynes. It is measured by the marginal propensity to save (MPS) and is reflected by the positive slope of saving line. The alternative to induced saving is autonomous saving, which does not depend on income.
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PINK FADFLY
[What's This?]
Today, you are likely to spend a great deal of time at a dollar discount store wanting to buy either a rechargeable battery for your camera or a coffee cup commemorating the first day of spring. Be on the lookout for small children selling products door-to-door.
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One of the largest markets for gold in the United States is the manufacturing of class rings.
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"How wonderful it is that nobody need wait a single moment before starting to improve the world." -- Anne Frank
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EMS
European Monetary System
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