Topic Videos

Indifference Curves - Income and Substitution Effects for Normal Goods

Level:
A Level, IB
Board:
AQA, Edexcel, OCR, IB, Eduqas, WJEC

Last updated 21 Mar 2021

In this revision video we work through how to show the substitution and income effects arising from a fall in the market price of a product, in our example we see why people are likely to buy more fresh oranges when their price goes down.

Indifference Curves - Income and Substitution Effects for Normal Goods

Slideshare version of this revision presentation

Indifference Curves - Income and Substitution Effects for Normal Goods

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