What are normal goods? give an example in our current, Ask an Expert

Economics

The recent recession has hurt several industries due to a decline in demand by households. Thinking of the relationship between income and demand discuss the following questions:

1. What are "normal" goods? Give an example in our current economy.

2. What are "inferior" goods? Give an example in our current economy.

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Microeconomics, Economics

Category:- Microeconomics
Reference No.:- M9292392

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