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.
Slideshare version of this revision presentation
You might also like
What is Universal Basic Income?
18th September 2016
The Budget Line
Topic Videos
Indifference Curves
Topic Videos
Indifference Curves and Consumer Equilibrium
Topic Videos
Indifference Curves - Falling Market Prices
Topic Videos
Substitution Effects Short Answers
Topic Videos
Indifference Curves - MCQ Revision Questions
Practice Exam Questions
The Law of Diminishing Marginal Utility
Topic Videos
Daily Email Updates
Subscribe to our daily digest and get the day’s content delivered fresh to your inbox every morning at 7am.
Signup for emails