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NOLEGEIN Journal of Consumer Behavior & Market Research Article Open Access

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

  1. Ruchi Rathore Department of Economics, Government P.G. College, Rehli

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

References (5)

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