No products in the cart.

When will a good be called …

CBSE, JEE, NEET, CUET

CBSE, JEE, NEET, CUET

Question Bank, Mock Tests, Exam Papers

NCERT Solutions, Sample Papers, Notes, Videos

When will a good be called inferior or normal ? Explain by giving an example

Posted by Nishu Nishu 7 years, 8 months ago

CBSE > Class 12 > Economics

1 answers

Arpita Pandey 7 years, 8 months ago

A normal good is a good whose consumption increases with an increase in income of consumer while an inferior good is a good whose consumption decreases with increase in income. Ex-say you used to buy vanilla ice cream but you started buying chocolate ice cream after your income increased.In this case, vanilla ice cream is an inferior good while chocolate ice cream is a normal good for the given consumer i.e you.

ANSWER

https://examin8.com

Test

Related Questions

why should the aggregate final expenditure of an economy be equal to the aggregate factor payment

Posted by Nandita Sharma 1 year, 6 months ago

CBSE > Class 12 > Economics

1 answers

Two types of marke diagram and explanation

Posted by Rijum Karlo 1 year, 6 months ago

CBSE > Class 12 > Economics

0 answers

Economic Reforms Since 1991 notes

Posted by Dipika Sharma 1 year, 6 months ago

CBSE > Class 12 > Economics

0 answers

What is receipt?

Posted by Geeta Gautam 1 year, 5 months ago

CBSE > Class 12 > Economics

0 answers

Economics project on function of RBI

Posted by Mehar Ansari 1 year, 6 months ago

CBSE > Class 12 > Economics

0 answers

Industrial licensing was used to promote regional equality. Discuss

Posted by Niyati Garg 1 year, 5 months ago

CBSE > Class 12 > Economics

0 answers

What is deficit ?

Posted by Sakshi Singh 6 months ago

CBSE > Class 12 > Economics

1 answers

Explain the limitation of GDP as wellfare

Posted by Naman Jain 1 year, 5 months ago

CBSE > Class 12 > Economics

1 answers

Trends in credit availability

Posted by Shruti Singh 1 year, 6 months ago

CBSE > Class 12 > Economics

0 answers

Is inclusive growth Achievable for a developing country like India when exposed to the process of privatisation and globalization

Posted by Niangmuankim Vaiphei 1 year, 6 months ago

CBSE > Class 12 > Economics

0 answers

myCBSEguide App

myCBSEguide

Trusted by 1 Crore+ Students

Test Generator

Test Generator

Create papers online. It's FREE.

CUET Mock Tests

CUET Mock Tests

75,000+ questions to practice only on myCBSEguide app

Google Play

Download myCBSEguide App