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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
Give one example of a pair of complementary goods.
What will be the impact of a rise in price on the demand for its complementary goods?
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. |
What do you mean by complementary goods?
Differentiate between Giffen goods and inferior goods.
Explain any three determinants of market demand.
Explain how quantity demanded for commodity X will be affected by An increase in the price of its substitute.
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.
What are Veblen goods?
Given an example of Veblen goods.
Tea and coffee are examples of ______.
