Asked by
Angie Ornelas
on Oct 12, 2024Verified
As income falls,the demand for normal goods ____ and the demand for inferior goods ___.
A) falls;falls
B) rises;rises
C) falls;rises
D) rises;falls
Normal Goods
Goods for which demand increases as consumer income rises, and decreases when consumer income falls.
Inferior Goods
Goods for which demand decreases as the income of consumers increases, opposite to normal goods.
- Identify the influence of variations in earnings on the consumption of both normal and inferior products.
Verified Answer
TA
Learning Objectives
- Identify the influence of variations in earnings on the consumption of both normal and inferior products.