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In Economics, a normal good is one where an increase in income levels causes an increase in demand (and vice versa) despite the price of the good remaining the same.
One such example would be movie tickets: people see more movies when they have more disposable income, and cut back when they're on a budget.
Keeley Olson
Wiki User
∙ 13y agoIn economics, a normal good is one where an increase in income levels causes an increase in demand (and vice versa) despite the price of the good remaining the same.
One such example would be movie tickets: people see more movies when they have more disposable income, and cut back when they're on a budget.
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Real world examples of normal distribution?
normal_distribution
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Does this means that all symmetric distribution are normal Explain?
Don't know what "this" is, but all symmetric distributions are not normal. There are many distributions, discrete and continuous that are not normal. The uniform or binomial distributions are examples of discrete symmetric distibutions that are not normal. The uniform and the beta distribution with equal parameters are examples of a continuous distribution that is not normal. The uniform distribution can be discrete or continuous.
Examples for normal goods?
Normal goods can be any goods that increase in demand when income increases and fall when price stays consistent but income falls. Examples of normal goods includes branded fashions, cars, and high-technology products like computers.
