For most products, purchases tend to fall with decreases in consumers' incomes. Such products are known as r:

a. inferior goods.

b. direct goods.

c. average goods.

d. normal goods.

Question

Mohammad Henderson

Business

20 July, 18:58

For most products, purchases tend to fall with decreases in consumers' incomes. Such products are known as r:

a. inferior goods.

b. direct goods.

c. average goods.

d. normal goods.

+4

Answers (1)

Know the Answer?

Janiya Ross · Answer 1

Normal goods.

Explanation:

Normal goods are generally have positive income elasticity of demand. This states that there is a positive relationship between the demand for normal goods and income level of the consumers.

Suppose the income of a consumer decreases as a result the demand for normal goods also decreases and if the income of a consumer increases then as a result the demand for normal goods increases.

Therefore, such products are normal goods.

For most products, purchases tend to fall with decreases in consumers' incomes. Such products are known as r:a. inferior goods.b. direct goods.c. average goods.d. normal goods.

For most products, purchases tend to fall with decreases in consumers' incomes. Such products are known as r:

a. inferior goods.

b. direct goods.

c. average goods.

d. normal goods.