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Kailey Chan
Business
27 August, 03:45
Which type of good do people buy more of as their income rises?
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Deshawn Stephens
27 August, 04:08
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As ones income rises people buy more normal goods. Normal goods are broken up into two categories: necessities and luxuries. When you have more money than before, you are able to purchase more items and are 'less' careful with what those items are. An example could be getting a raise at work and buying new furniture or purchasing pre-made meals versus the ingredients that are cheaper and making the meal yourself.
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