Economy, asked by satyam732, 1 year ago

show how normal and inferior goods are differently affected by an increase or decrease in income of the buyer​

Answers

Answered by tvisha60
1

Difference Between Normal Goods andInferior Goods. The goods whose demand tends to increase as the income of the consumer rises, are called normal goods. ... When income elasticity is less than one, then there is a decrease in quantity demanded.

Answered by luckiest1
1

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Increase and decrease in inferior goods causes effect directly to income of buyer while it is not affected inthe case of normalgoods.

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