Goods for which the quantity that a consumer chooses increases as the consumer's income increases and decreases as the income decreases are called?

Question

YESPYQ · Accepted Answer

Correct answer: b) Normal goods. Normal goods are goods whose demand rises when consumer income increases. Conversely, their demand falls when consumer income decreases. Examples include clothing, electronics, and branded products. They are different from inferior goods, whose demand decreases as income rises. Hence, the correct answer is "Normal goods".

Goods for which the quantity that a consumer chooses increases as the consumer's income increases and decreases as the i…

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