Commodities bought in larger quantities when income rises are called:
A)Normal goods
B)Inferior goods
C)Giffen goods
D)None

Name: Commodities bought in larger quantities when income rises are called: A)Normal goods B)Inferior goods C)Giffen goods D)None
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Question

Quizplus · Accepted Answer

Normal goods are those for which demand increases as the income of the consumer increases. This is because people tend to buy more of these goods when they have more disposable income.

Commodities Bought in Larger Quantities When Income Rises Are Called