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Questions
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?
Solution
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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RELATED QUESTIONS
Explain any three factors that affect the demand for a commodity.
State two factors affecting the market demand for a commodity.
Which of the following is not a determinant of demand?
If due to fall in the price of good X, demand for Y rises, the two goods are ______.
What kind of a commodity will have inverse relation between income and demand?
Assertion (A): The statement 'A consumer buys 2 litres of milk everyday at a price of ₹50 per litre of milk' is demand statement.
Reason (R): The demand for a commodity is always expressed with references to price and time.
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. |
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What do you mean by complementary goods?
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Tea and coffee are examples of ______.
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Milk can be put to several uses; therefore, it is called as a ______ good.
