Question

difference between Norman goods and inferior.

Answer 1

This type of good has a positive association between two factors, the quantity demanded and the income. ... 3.The difference between normal goods and inferior goods are their concepts. Normal goods increase in demand as the income of the consumer increases while inferior goods decrease in demand as the income increases.

Answer 2

Heya....

See here for your answer...

"" Normal goods....

√ Having positive relationship with income and quantity demanded when other things remaining constant...

√ These may be or not the neccesities of life....

√ There is always inverse relationship between the own price and quantity demanded so law of demand operates..

** Inferior Goods...

√ Having inverse relationship with the income when other things remaining constant...

√ These are always the necessities of life...

√ May be or not be inverse relationship with own price and the quantity demanded so law of demand may fails...

Thank you...