Difference between revisions of "Normal good"
From Conservapedia
| Line 4: | Line 4: | ||
A normal good is also known as a [[superior good]]. | A normal good is also known as a [[superior good]]. | ||
| + | [[category:economics]] | ||
Revision as of 09:06, April 27, 2007
A normal good is one whose consumption increases as money income increases, assuming the price of the good remains constant. Conversely, the consumption of a normal good decreases as money income of consumers decreases. Consumer goods are usually normal.
This term is easy to remember because a normal good typifies what is "normal" in response to increases or decreases in income of consumers.
A normal good is also known as a superior good.
