Indifference Curves - Income and Substitution Effects for Normal Goods I A Level and IB Economics

Indifference Curves - Income and Substitution Effects for Normal Goods I A Level and IB Economics

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. ​ #aqaeconomics #ibeconomics #edexceleconomics #cieeconomics #ocreconomics