Main menu For students For teachers Explore our subjects Student events & courses

Explore

More for students
Sign in

Free Economics resources

Topic Videos

Indifference Curves - Income and Substitution Effects for Normal Goods

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

Last updated 21 Mar 2021

Share this content:

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
Share this content:

You might also like

The Law of Diminishing Marginal Utility

Topic Videos

The Budget Line

Topic Videos

Indifference Curves - MCQ Revision Questions

Practice Exam Questions

Substitution Effects Short Answers

Topic Videos

Indifference Curves - Rising Income and Normal Goods

Topic Videos

Indifference Curves - Rising Income and Inferior Goods

Topic Videos

Indifference Curves - Falling Market Prices

Topic Videos

Indifference Curves and Consumer Equilibrium

Topic Videos