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With the advent of DVDs and now Blueray, VCRs seem to be an antiquated item
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Are books inferior goods or normal goods?
They are inferior goods
What is abnormal and Inferior goods in Economics?
Abnormal and inferior goods in economics are goods that are not of the best quality or the normal variety.
What determines if a person buys normal or inferior goods?
The price, how informed the person is and the quality of the goods are the factors that determines whether a person will buy inferior or normal goods.
What is the difference between inferior and normal goods?
Cheese
Difference between normal goods and inferior goods?
Normal goods are everyday things that the average person would own. Inferior things are more of a low quality item that is considered for poor people.
Are books inferior goods or normal goods?
They are inferior goods
What is abnormal and Inferior goods in Economics?
Abnormal and inferior goods in economics are goods that are not of the best quality or the normal variety.
What determines if a person buys normal or inferior goods?
The price, how informed the person is and the quality of the goods are the factors that determines whether a person will buy inferior or normal goods.
What is the difference between inferior and normal goods?
Cheese
Difference between normal goods and inferior goods?
Normal goods are everyday things that the average person would own. Inferior things are more of a low quality item that is considered for poor people.
When consumers get more money they tend to substitute normal goods for what goods?
When consumers get more money, they tend to substitute normal goods for _inferior_ goods.
When consumers get more money they tend to substitute normal goods for goods?
inferior
Whats in the middle of normal goods and inferior goods on a graph call?
i think their is a lot of goods in South Carolina
What are the different types of goods?
Luxury Good, Normal Good, and Inferior Good.
How does consumer income affect the demand for normal and inferior goods?
A consumers income can affect their demand for most goods, for normal goods if the consumers income increases then there is a demand for more normal good, but a fall in income would cause a shift to the left for the demand curve, this shift is called a decrease in command. For inferior goods, an increase in income causes demand for these goods to fall, inferior goods are goods that you would buy in smaller quantities, or not at all, if your income were to rise and you could afford something better.
What do we call the graphic representation of a demand schedule?
What is the difference between normal and inferior goods
What happens to demand for normal and inferior goods when there is a decrease in your income?
the demand for inferior goods varies inversely with income. If your income rises then the demand for rice will decrease. the demand for normal goods varies directly with income. If your income rises the demand for these goods will rise as well. Most goods are normal goods ie, cars, new homes, furniture, steaks, and motel rooms. Economics, Stephen L Slavin 10e
