A demand which is positively related to price is true of?
A.
normal goods
B.
giffen goods
C.
ostentatious goods
D.
capital goods
Correct Answer: Option A
Explanation
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.
Contributions ({{ comment_count }})
Please wait...
Modal title
Report
Block User
{{ feedback_modal_data.title }}