A Structural Change in Demand for Service due to Income Elasticity: A Macro Analysis

Open Access

Year : 2021 | Volume : 04 | Issue : 01 | Page : 8-10
By

    Ruchi Rathore

  1. Assistant Professor, Department of Economics, Government P.G. College, Rehli, Madhya Pradesh, India

Abstract

Present condition shows that India has a higher economic growth. When we talk about which factors are responsible for economic growth. There will be many factors, but the main factor is the demand in service; rapid growth in the service sector that have contributed to overall economic growth. The present study is an attempt to provide a substantial theoretical explanation through demand side to support service led growth. The present study estimates the income elasticity of demand for service from 1951 to 2010. The study finds a structural change in demand for services corresponding to income

Keywords: Economic growth, income elasticity, macro analysis, economy, demand

[This article belongs to NOLEGEIN Journal of Consumer Behavior & Market Research(njcbmr)]

How to cite this article: Ruchi Rathore A Structural Change in Demand for Service due to Income Elasticity: A Macro Analysis njcbmr 2021; 04:8-10
How to cite this URL: Ruchi Rathore A Structural Change in Demand for Service due to Income Elasticity: A Macro Analysis njcbmr 2021 {cited 2021 Apr 05};04:8-10. Available from: https://journals.stmjournals.com/njcbmr/article=2021/view=91592

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References

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Regular Issue Open Access Article
Volume 04
Issue 01
Received March 11, 2021
Accepted March 23, 2021
Published April 5, 2021