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Income Elasticity of Demand

Calculate income elasticity using the income elasticity of demand formula.

Income elasticity: -
Calculation explained

How this result was calculated

The formula, your substituted values, and the evaluated result are shown below.

Reference: Formulae and Tables, State Examinations Commission (2014), page 29.
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How the Income Elasticity of Demand works

This calculator applies the formula given in Formulae and Tables, State Examinations Commission (2014), page 29. Enter values in consistent units.

Formula and inputs

percent_quantity ÷ percent_income

Inputs: % change in quantity demanded, % change in income.

Using the result

The result is rounded to 4 decimal places. Check units, assumptions and significant figures before using the answer.

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