Question

When is a good called a ‘normal good’?

Answer 1

Explanation:

normal good. Good for which demand (consumption) increases as consumer income rises, but at a rate slower than the rate of increase in income. Defined also as a good for which the income elasticity of demand is positive but less than one. Also called necessary good, it is the opposite of inferior good.

Answer 2

Answer:

a good is called normal when a good becomes normal means one step down