A normal good is a good for which the demand decreases as income decreases, holding everything else constant.

Question

Quizplus · Accepted Answer

A normal good is a good for which the demand decreases as income decreases, holding everything else constant. This is because as income decreases, consumers have less money to spend on goods, so they will likely prioritize their spending on basic necessities rather than on luxury or non-essential goods.

A Normal Good Is a Good for Which the Demand