A graph showing how income is divided between different uses, for example importables and exportables, as its total level rises. With unit income elasticity of demand for each, the income expansion path is a ray through the origin; if consumption is biased towards importables as income rises, the income expansion path has a slope between a ray through the origin and the importables axis.

• impact effect
• impatience
• imperfect competition
• imperialism, economic
• implicit contract
• implicit function
• importables
• import control
• import deposit
• Import Duties Act, 1932
• import duty
• imported inflation
• import levy
• import licence
• import penetration
• import propensity
• import quota
• import restriction
• imports
• import substitution
• import surcharge
• import tariff
• imputation system
• imputed charge for consumption of non-trading capital
• imputed income