Indifference Curves - Income and Substitution Effects for Normal Goods
- A-Level, IB
- 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.
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