Question

define normal goods.

Answer 1

hey mate
A normal good is one whose demand increases as people's incomes or the economy rise. A normal good is defined as having an income elasticity of demand coefficient that is positive, but less than one.

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Answer 2

Normal goods:-

• Normal goods are those goods whose demand increase as income increase.

• The relationship b/w demand of normal goods and income goods is positive.

• Whenever income increase demand curve of normal goods shift to right wards

• E.g.- Basmati rice, fullcream milk, desi ghee.