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 is the y intercept of this line y+4=-4(x-2) Rewrite this equation in standard form What is the x intercept of this line What is the equation in standard fo
Which of the following best explains why the Chinese rebuilt the Great Wall in the 1400s? A. to keep out invaders from the Japanese islands B. to keep out Mongo
Bryson buys a bag of 64 plastic miniature dinosaurs . could he distribute them equally into six storage containers and not have any left over?explain .
Which renewable resources could become a non renewable resource if used faster than earths ability to replenish its supply?
Please help ! One pound of shrimp costs $6.00. How much does 7/8 pound of shrimp cost?
which helps in counting the age of a tree? A) Rings seen in the stem B) Height of the tree C) Width of a tree
If the 'Cell wall' had a career; what would it be?
What is the answer to 25 - 5t > 10
What is the sum of 2 10/12 + 3 3/12
-3+4(2X-5)=2(3X-1)+2X