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angela210793 Group Title

suppose that demand's elasticity for cars in USA=2.5 and in UK=3 If in the next year the incomes of USA grow with 2% and in UK with 1% wht will be the effect in Qd in both countries?

  • 2 years ago
  • 2 years ago

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  1. sheg Group Title
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    See as the income level of both the countries is increasing then people will have more money to spend that is their desire will get converted into demand ( with extra amount to spend). Thus, such people who do not possess car will purchase car and those who already possess car will try to buy cars which will be better than the car they possess.

    • 2 years ago
  2. angela210793 Group Title
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    my teacher did smth like |dw:1322932310482:dw| i didn't get...do these show the increase of Qd of USA and UK?

    • 2 years ago
  3. sheg Group Title
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    and income elasticity of demand

    • 2 years ago
  4. sheg Group Title
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    see this equation is for income elasticity of demand..........i was telling it u in words......... If the demand decreases for cars it means that it is inferior good...........and if it demand increases it means that it is a superior good

    • 2 years ago
  5. sheg Group Title
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    \[Income Elasticity of Demand = \frac{percent chage i n quantity demanded}{percent change i n income level}\]

    • 2 years ago
  6. sheg Group Title
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    from this u can find out the quantity demanded

    • 2 years ago
  7. sheg Group Title
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    i was actually trying to explain the relation between income and demand

    • 2 years ago
  8. angela210793 Group Title
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    Oh..............I think I got it.....Thanks ^_^

    • 2 years ago
  9. sheg Group Title
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    so they are directly proportional to each other as the income increases the demand of inferior goods goes down and as income increases the demand of superior goods increases

    • 2 years ago
  10. sheg Group Title
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    in which semester?

    • 2 years ago
  11. angela210793 Group Title
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    1st semester ,1st year X)

    • 2 years ago
  12. sheg Group Title
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    ok..microeconomics

    • 2 years ago
  13. angela210793 Group Title
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    yes...i like it a lot :)

    • 2 years ago
  14. sheg Group Title
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    yeah very interesting subject i like macroeconomics not microeconomics

    • 2 years ago
  15. angela210793 Group Title
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    just finished micro will start macro on wednesday :) wht r u studying?

    • 2 years ago
  16. sheg Group Title
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    m not student

    • 2 years ago
  17. angela210793 Group Title
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    oh ok...wht have u studied then?

    • 2 years ago
  18. sheg Group Title
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    Same thing which u r studying right now

    • 2 years ago
  19. angela210793 Group Title
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    business administration?

    • 2 years ago
  20. sheg Group Title
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    yeah

    • 2 years ago
  21. sheg Group Title
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    what specialization u want to opt

    • 2 years ago
  22. angela210793 Group Title
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    Idk....I think i got some time to think abt it...I've heard accounting is good...idk though

    • 2 years ago
  23. angela210793 Group Title
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    wht's ur spec?

    • 2 years ago
  24. sheg Group Title
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    if u want to opt for finance then it is good because for finance u need a strong quant base

    • 2 years ago
  25. sheg Group Title
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    from my reply it must be clear^^^^^^^^^^^^^^^^^

    • 2 years ago
  26. angela210793 Group Title
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    aha i got it ^^......hmmmmmm.....and,,,wht do u exactly do in finance?

    • 2 years ago
  27. angela210793 Group Title
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    Researcher??? O.o...marketing??? O.o

    • 2 years ago
  28. angela210793 Group Title
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    I'm sorry for my ignorance :/ but I've heard research only in marketing till now :/ sorry....wht do u search for??

    • 2 years ago
  29. angela210793 Group Title
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    OMG!!! I feel like I'm the most ignorant person in the whole world :(:(:( So we can talk at least after I've finished 1st year :P:P is it this? http://www.citibank.com/corpbank/wwss/agency/pf.htm ?? Future plans.....My grades average of 3 years must be +9/10 so tht I can apply for masters scholarships somewhere out of Albania(whr i am from) ^^

    • 2 years ago
  30. angela210793 Group Title
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    Wow....lucky you :):) I wish I can have the same luck ^^ How old r u?

    • 2 years ago
  31. sheg Group Title
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    actually i dont want to disclose my identity

    • 2 years ago
  32. sheg Group Title
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    so nvr use my actual name on these kind of websites......sorry for that

    • 2 years ago
  33. angela210793 Group Title
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    Ok.....I'm sorry....

    • 2 years ago
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