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. ​

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• #education
• #indifference_curves
• #consumer_choice
• #theory_of_demand
• #income_effect
• #substitution_effect