lilmamaforev5093 lilmamaforev5093
  • 03-02-2019
  • Business
contestada

A good for which demand increases as income rises is ________, and a good for which demand increases as income falls is ________.

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mooreorlando727
mooreorlando727 mooreorlando727
  • 12-02-2019

In economics, When income increases and the demand for a good increase, the good is considered a normal good.

However, an inferior good is a good whose demand decreases when consumer income rises (or demand increases when consumer income decreases), unlike normal goods, for which the opposite is observed.

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