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In economics, normal goods are any goods for which demand increases when income increases, and falls when income decreases but price remains constant, i.e. with a positive income elasticity of demand.[1][2] The term does not necessarily refer to the quality of the good, but an abnormal good would clearly not be in demand, except for possibly lower socioeconomic groups.

In particular, when the price of a normal good is zero, the demand is infinite.

Depending on the indifference curves, the amount of a good bought can either increase, decrease, or stay the same when income increases. In the diagram below, good Y is a normal good since the amount purchased increases from Y1 to Y2 as the budget constraint shifts from BC1 to the higher income BC2. Good X is an inferior good since the amount bought decreases from X1 to X2 as income increases.

Examples include Holidays, Cars, diamonds, branded fashions, hi-tech products etc.

example of a normal good and an inferior good

See also[edit]

References[edit]


Original courtesy of Wikipedia: http://en.wikipedia.org/wiki/Normal_good — Please support Wikipedia.
This page uses Creative Commons Licensed content from Wikipedia. A portion of the proceeds from advertising on Digplanet goes to supporting Wikipedia.
1000000 videos foundNext > 

Next to Normal - Good Morning America (May 27, 2010)

Alice Ripley, Brian d'Arcy James & Kyle Dean Massey of Broadway's NEXT TO NORMAL (by Tom Kitt & Brian Yorkey) perform I'm Alive, You Don't Know and I've Been...

Max Normal - Good Old Fashion Loving

Lyrics: ----------------------------------- hello everybody welcome to my tea party i'm glad y'all could make it underneath my clothes i'm all naked just lik...

Normal (Good Tracking)

7 - Max Normal - Good Old Fashion Loving

7th track off of Songs From The Mall.

7 - Good Old Fashion Loving - Max Normal

Track 7 - Good Old Fashion Loving - Max Normal Track 8 - http://youtu.be/KP6gAHqDlOw (You Talk Too Loud) Album: Songs from the Mall I don't own any of this.

Let's Play Persona 4 Part 178 - Normal/good ending path

Those questions are very very important.

DAWNGATE! - Just a normal, good Mikella game!

Just an average Mikella game, not too bad, not too awesome. But! As with every game, I am still learning how to play better with my Shaper and against differ...

Subway:inferior good Quiznos: normal good

Edgar CNN anchor for microeconomics class.

PKN NORMAL GOOD GAME ALTHEA

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Normal (Good Tracking)

1000000 videos foundNext > 

88 news items

 
TheStreet.com
Fri, 22 Aug 2014 07:26:15 -0700

Identifying stocks with 'Unusual Social Activity' tends to be a valuable process for traders looking to capitalize on the 'talk of the town' stocks that are basking in far more attention from the StockTwits financial community than normal. Good press ...
 
TheStreet.com
Fri, 22 Aug 2014 07:15:00 -0700

Identifying stocks with 'Unusual Social Activity' tends to be a valuable process for traders looking to capitalize on the 'talk of the town' stocks that are basking in far more attention from the StockTwits financial community than normal. Good press ...
 
TheStreet.com
Thu, 21 Aug 2014 07:26:15 -0700

Identifying stocks with 'Unusual Social Activity' tends to be a valuable process for traders looking to capitalize on the 'talk of the town' stocks that are basking in far more attention from the StockTwits financial community than normal. Good press ...
 
TheStreet.com
Wed, 20 Aug 2014 07:15:00 -0700

Identifying stocks with 'Unusual Social Activity' tends to be a valuable process for traders looking to capitalize on the 'talk of the town' stocks that are basking in far more attention from the StockTwits financial community than normal. Good press ...
 
TheStreet.com
Wed, 20 Aug 2014 06:52:30 -0700

Identifying stocks with 'Unusual Social Activity' tends to be a valuable process for traders looking to capitalize on the 'talk of the town' stocks that are basking in far more attention from the StockTwits financial community than normal. Good press ...
 
TheStreet.com
Thu, 14 Aug 2014 09:18:45 -0700

Identifying stocks with 'Unusual Social Activity' tends to be a valuable process for traders looking to capitalize on the 'talk of the town' stocks that are basking in far more attention from the StockTwits financial community than normal. Good press ...

Radio.com News

Radio.com News
Wed, 13 Aug 2014 09:50:57 -0700

... “dream girl” in mind. “Every guy when they go out, whether they're a douchebag or a normal good guy, they want to meet that girl. They think they're going to meet that girl — and you never do. And it definitely ain't going to happen for the dude ...
 
Black And Red United
Sat, 09 Aug 2014 05:33:45 -0700

DeLeon and Rolfe need to make sure they're regularly escaping Mulholland and Ned Grabavoy to find spaces, while Silva needs to do his normal good work at finding whatever seams there are and exploiting them. I'd also like to see Eddie Johnson peel ...
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