Flashcards
Utility
Cards in this deck (2)
- 1Reflects the way that a change in price of a good affects purchasing power (real income)The income effect of a price change
- 2reflects the way that a change in the price of a good affects relative prices.Substitution effect of a price change
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- Description
- CIE Economics (IGCSE and A Level) A2 Micro Flashcards on Utility, created by Mark Solomons on 20/04/2015.
- Created by
- Mark Solomons · Apr 2015
- Updated
- Feb 19, 2016
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