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Luxuries

Luxuries are superior goods and services with a YED value of greater than one, that is, their demand is highly income elastic.

Where this appears

The syllabus topics that use this term.

  • 2.5Importance of YED (HL Only)
  • 2.5Income Elasticity of Demand (YED)

Taught in Elasticities of Demand

All 809 terms
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