Question

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

Answer 1

Answer:

A normal good is a good that experiences an increase in it's demand due to a rise in consumer's income.

An inferior good is a good where,when the individual's income rises they buy less of that good.

Example of a normal goods are demand of LCD and plasma telivision.

Example of an inferior goods are expensive food like instant noodles, pizza and hamburger.

Answer 2

Answer:

An inferior good is an economic term that describes a good whose demand drops when people incomes rise inferior goods are associated with a negative are income elasticity,while normal goods are related a positive income elasticity