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प्रश्न
What do you mean by a normal good?
When is a good considered a normal good?
What is a normal good?
What are normal goods?
उत्तर
A good whose demand increases with increase in consumer's income (and decreases with fall in income) is called a normal good.
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संबंधित प्रश्न
With an increase in income, the consumption of which good, the consumer reduces ______.
Goods X and Y are complements when they are ______.
The demand for a Good X increases when the price of its substitute ______ OR when the price of its complements ______.
From the set of statements given in Column I and Column II, choose the correct pair of statements:
| Column I | Column II |
| A. Normal goods | (i) Goods the demand for which tends to fall with increase in income. |
| B. Inferior goods | (ii) Goods which cannot be used in place of one another. |
| C. Substitute goods | (iii) Goods which can be used in place of one another. |
| D. Joint demand | (iv) Goods the demand for which rise with increase in income. |
If price of X increases, then demand for Y too increases. What is the relationship between goods X and Y? Give an example.
Differentiate between Giffen goods and inferior goods.
Define market demand.
Explain any four factors affecting the demand for a commodity.
Give the meaning of Price demand.
Give the meaning of Income demand.
Give the meaning of Cross demand.
Give two examples of substitute goods.
Give two examples of complementary goods.
Give an example of Giffen goods.
Car and petrol are examples of ______ demand.
Tea and coffee are examples of ______.
When income increases, the demand for ______ type of good will increase.
Detergent powder and detergent cake are examples of ______.
