Difference between revisions of "Superior good"
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A '''superior good''' is the same as a [[normal good]]: its consumption increases as money income increases, assuming the price of the good remains constant. Conversely, the consumption of a superior good decreases as money income of consumers decreases. Consumer goods are usually normal or superior. | A '''superior good''' is the same as a [[normal good]]: its consumption increases as money income increases, assuming the price of the good remains constant. Conversely, the consumption of a superior good decreases as money income of consumers decreases. Consumer goods are usually normal or superior. | ||
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Latest revision as of 19:55, July 13, 2016
A superior good is the same as a normal good: its consumption increases as money income increases, assuming the price of the good remains constant. Conversely, the consumption of a superior good decreases as money income of consumers decreases. Consumer goods are usually normal or superior.