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 > 

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...

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...

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.

Subway:inferior good Quiznos: normal good

Edgar CNN anchor for microeconomics class.

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...

Hero Core - Playthrough by Ortoslon on Normal (Good Ending)

game: Hero Core by Daniel Remar (aka Ultimortal): http://www.remar.se/daniel/herocore.php ortoslon: http://youtube.com/ortoslon "100% bosses, 100% computers ...

Normal (Good Tracking)

Normal (Good Tracking)

1000000 videos foundNext > 

63 news items

Belfast Telegraph

Belfast Telegraph
Sun, 31 Aug 2014 21:52:30 -0700

"But, at the end of the day, he is just a normal, good guy underneath all of that. "Very down-to-earth." Admitting she had never watched the Open winner in action, she said: "Honestly? No. I'm not really a golfing fan." She also revealed that on the ...
 
Irish Mirror
Sun, 31 Aug 2014 12:18:45 -0700

Nadia Forde has reconciled with her mum after learning she is dying, it has emerged. The model, who was raised by her grandmother after her parents split when she was seven, has always been open about her difficult relationship with her mum.

Boston Globe

Boston Globe
Tue, 26 Aug 2014 22:04:37 -0700

Uehara is really right in the range of workload for a normal good closer. Rosenthal has thrown 1,092 pitches, for instance, more than any other closer. Uehara is tied with Dodgers closer Kelly Jansen for pitches thrown. He and Rosenthal are second to ...
 
Thegardenisland.com
Wed, 27 Aug 2014 03:38:42 -0700

Understand that using alcohol causes people to not filter their actions with their normal good judgment. Another way of saying it is that people can do some dumb stuff when they are drunk that they wouldn't normally do. That's true for both victim and ...
 
The Stir
Mon, 25 Aug 2014 04:55:14 -0700

... as they got up to pee), Sookie spoke some real sense and told Bill she wasn't going to unfairy herself and change who she was, not even for the chance to be normal. Good thing there is always a wooden implement around for vampire staking convenience!
 
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
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 ...
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!