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ÇIKMIS KPDS SORULARI PARAGRAF DOLDURMA (TEST 1) 75. Soru

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75.

In a developed country, the demand for luxury goods expands rapidly as people's incomes
rise. ---- . Thus, items such as cars and foreign holidays have a high income elasticity of
demand whereas items such as potatoes and bus journeys have a low income elasticity of
demand.

Poor people respond differently from rich people to a rise in their incomes

The demand for basic good, however, such as bread, rises only a little if not all

The reason is that producers and consumers take time to respond to a change in price

The luxury goods of one generation are often not regarded as luxury goods by the next

Whenever there is a noticeable change in the price of a commodity, one can expect a change in
the demand for that commodity