Advertisements
Advertisements
Question
Answer the following question.
Discuss the relationship between the income of the consumer and demand for a commodity with respect to normal goods, inferior goods, and necessities.
One Line Answer
Advertisements
Solution
A normal good: Demand will increase and the demand curve will shift towards the right.
An inferior good: Demand will decrease and the demand curve will shift towards left.
shaalaa.com
Is there an error in this question or solution?
