cdizzlesmith1264 cdizzlesmith1264
  • 03-07-2021
  • Business
contestada

Most goods can be classified as normal goods rather than inferior goods. The definition of a normal good means that:

Respuesta :

ewomazinoade ewomazinoade
  • 06-07-2021

Answer:

A normal good is a good whose demand increases when income increases

Explanation:

Normal goods are goods that are goods whose demand increases when income increases and falls when income falls

Inferior goods are goods whose demand falls when income rises and increases when income falls.

For example, if when your income was $100,000 per annum, you had one car but when it increased to $500,000, you bought two more cars. Car is a normal good

Answer Link

Otras preguntas

What type of government did robespierre want?
Which organism can produce the highest number of genetically different gametes?
How many pints in a 5 gallon container
The integrating center of the feedback mechanism is often a particular part of which structure of the body
According to the video what will happen when a person ducks and covers during danger apex
Read this quotation from "The World on Turtle's Back." The woman placed the dirt on Turtle's back and performed a ritual to create the earth. She walked around
What predicts the earthquake
Simplify (20^13)^19 A. 400^32 B. 20^32 C. 20^247 D. 400^247
Why is honesty key to your success in this course?
The languages of italy, spain, and portugal are categorized as romance languages, which are based on