Ask Question
22 March, 12:17

What does the term normal goods refers to?

+2
Answers (1)
  1. 22 March, 12:25
    0
    Normal goods are any goods for which demand increases when income increases, and falls when income decreases but price remains constant, i. e. with a positive income elasticity of demand.
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “What does the term normal goods refers to? ...” in 📗 Business if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers