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Utility Software

Nathan Tonkin

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Utility

Description

CIE Economics (IGCSE and A Level) A2 Micro Flashcards on Utility, created by Mark Solomons on 20/04/2015.

Flashcards by Mark Solomons, updated more than 1 year ago

	Created by Mark Solomons about 10 years ago

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Resource summary

Question	Answer
Reflects the way that a change in price of a good affects purchasing power (real income)	The income effect of a price change
reflects the way that a change in the price of a good affects relative prices.	Substitution effect of a price change

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