Generally income elasticity for a commodity is?

1.	Generally income elasticity for a commodity is?
Answer» Answer: Income ELASTICITY of normal goods MAY be less than unity (inelastic) or greater than unity (elastic) depending upon whether (SAY) a 10% increase in income leads to less than or more than a 10% increase in the QUANTITY DEMANDED. ... The income elasticity measure helps to identify commodities to some extent.

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Answer:

Income ELASTICITY of normal goods MAY be less than unity (inelastic) or greater than unity (elastic) depending upon whether (SAY) a 10% increase in income leads to less than or more than a 10% increase in the QUANTITY DEMANDED. ... The income elasticity measure helps to identify commodities to some extent.

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Generally income elasticity for a commodity is?​

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Generally income elasticity for a commodity is?