When income increases and the demand for a good increases, the good is considered a?

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Rory Tucker

Business

11 August, 04:46

When income increases and the demand for a good increases, the good is considered a?

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Korbin Haas · Answer 1

The good will be considered a normal good. It is called a normal good because it would be only natural for a product or service to be desired if demand and income increases. Layoffs or other reasons for decreases in spending will cause the demand of the good to lower.