What is the type of good for which there is actually more demand as a person's income rises?
A)Private good
B)Public good
C)Substitute good
D)Normal good

Question

Quizplus · Accepted Answer

There is more demand for a normal good as a person's income rises.
Key Takeaway: In general, there are two different types of goods: normal and inferior. A normal good is defined as a good for which there is an increase in demand as consumer income rises. The opposite is true for an inferior good: as consumer incomes rise, demand decreases.

What Is the Type of Good for Which There Is