normal good

English

Noun

normal good (plural normal goods)

(economics) a good for which demand increases when income increases and falls when income decreases but price remains constant, i.e. with a positive income elasticity of demand.

Antonyms

inferior good

Hyponyms

superior good

This article is issued from Wiktionary. The text is licensed under Creative Commons - Attribution - Sharealike. Additional terms may apply for the media files.