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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.
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Subway:inferior good Quiznos: normal good

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thanks and always subscribe so yeah check out ZachTKR so Yeah Peace!

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92 news items

 
TheStreet.com
Tue, 22 Apr 2014 11:56:15 -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
Tue, 22 Apr 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
Tue, 22 Apr 2014 07:13:26 -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 ...

The Sudbury Star

The Sudbury Star
Mon, 21 Apr 2014 20:45:00 -0700

“They appear to be people of normal good character,” he said. “(But) there is a reason why you can't have somebody else write your exam for you. We are going to give you a licence to fly a plane, but somebody else wrote the exam for you.” “With a plane ...
 
TheStreet.com
Mon, 21 Apr 2014 07:58:29 -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
Mon, 21 Apr 2014 06:58:33 -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 ...
 
The Daily Advertiser
Fri, 18 Apr 2014 19:15:00 -0700

At first glance, it was a normal Good Friday morning track and field practice at Westminster Christian to prepare for that season's stretch drive with the District 5-2A meet coming up next week. But once WCA track and football coach Tommy Badon began ...
 
TheStreet.com
Thu, 17 Apr 2014 07:13:46 -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 ...
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