Learn how income changes influence consumer spending and business performance. Explore positive and negative impacts of the income effect on normal and inferior goods.

One of the debates within economics is whether consumption is driven by income or wealth. The outcome of this debate is important for policymakers; if the goal of policy is lifting or constraining ...

Anxiety about inflation, among citizens and politicians alike, has been peaking recently. In the United States, the year-on-year increase in consumer prices reached 7.5% in January, the highest rate ...

This study examines the influence of family income on student achievement in mathematics utilising data from the parents’ questionnaire for nine countries participating in the OECD’s 2012 PISA study.