digplanet beta 1: Athena
Share digplanet:

Agriculture

Applied sciences

Arts

Belief

Business

Chronology

Culture

Education

Environment

Geography

Health

History

Humanities

Language

Law

Life

Mathematics

Nature

People

Politics

Science

Society

Technology

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...

Normal (Good Tracking)

Superfund TV Spot Normal-Good-Super

Normal-Good-Superfund English version.

PKN NORMAL GOOD GAME ALTHEA

Dragon nest INA PKN normal in captain level 60 seberapa cepat anda dari saya?

1000000 videos foundNext > 

66 news items

Farmers Guardian

Farmers Guardian
Mon, 28 Jul 2014 07:49:58 -0700

Meat from LA-MRSA affected animals is perfectly safe to eat provided normal good hygiene and thorough cooking practices are observed. “DARD is liaising with the Public Health Agency and is providing advice and assistance to those on the farm in question.
 
TheStreet.com
Mon, 28 Jul 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
Mon, 28 Jul 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
Fri, 25 Jul 2014 08:00:00 -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, 24 Jul 2014 09:07:30 -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, 24 Jul 2014 07:14:52 -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, 23 Jul 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
Wed, 23 Jul 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 ...
Loading

Oops, we seem to be having trouble contacting Twitter

Talk About Normal good

You can talk about Normal good with people all over the world in our discussions.

Support Wikipedia

A portion of the proceeds from advertising on Digplanet goes to supporting Wikipedia. Please add your support for Wikipedia!