Income Elasticity of Demand Calculator

Enter the initial and final incomes along with the initial and final demand quantities into the calculator below. The calculator will evaluate and display the income elasticity of demand.

Income Elasticity of Demand Formula

The following equation is used to calculate the income elasticity demand of an object.

IED = FD – ID / IF – II

  • Where IED is the income elasticity of demand
  • FD is the final demand
  • ID is the initial demand
  • IF is the final income
  • II is the initial income

What is income elasticity of demand?

Income elasticity of demand, also know as IED, is the financial term used to describe the change in income of a good or service with the change in demand of that good or service. In other words how income will increase or decrease with a change in demand.

Income Elasticity of Demand Calculator

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