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Question:

What do you mean by a normal good?

Answer:

Those goods that share a positive relationship with income but a negative relationship with price are called normal goods. In other words, if the income of a consumer increases, then the demand for a normal good also increases. However, the demand will fall with the rise in the price of that good. That is, If the price of a good (Px ) increases, then the demand for the good (Dx) decreases. If a consumer’s income (M) increases, then the demand for good Dx increases.


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  • Answered by Ekta Mehta
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  • Answered by Ekta Mehta
  • 4 months ago

Taking Screenshots on your Samsung Galaxy M31s is very easy and quick.

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