Asked by
Life Of Daniela
on Nov 25, 2024
Verified
Consumers buy more of normal goods as their incomes rise.
Normal Goods
Goods for which demand increases as the income of consumers increases.
Incomes
refer to the earnings received by individuals or households, including wages, salaries, benefits, and returns from investments.
- Understand the implications of income changes on the demand for goods.
Verified Answer
SF
Learning Objectives
- Understand the implications of income changes on the demand for goods.