Question

give the example of normal goods and example of inferior goods ​

Answer 1

normal goods - rice,wheat

Inferior goods - coarse cloth , coarse grain

Answer 2

Canned food and coarse grains are examples of inferior goods and Rice and wheat are examples of normal goods.

• Normal good is a good whose demand increases with an increase in consumer's income
• Inferior good is a good whose demand decreases with a decrease in the consumer's income
• For example- if a consumer receives a pay cut and his income decreases, he'll have less money to spend.
• To cut back on expenditure, he will switch from rice/wheat to coarser grains and canned food which are less expensive.
• Thus, rice, and wheat are normal whereas canned food and coarse grains are inferior goods.