Introduction to Economics 1 Deneme Sınavı Sorusu #725864

Which of the following is an example for normal goods?


Car

Air travel

Real estate

White bread

Cinema ticket


Yanıt Açıklaması:

For most products, an increase in income leads to an increase in demand. Such goods and services are known as normal goods. As income rises, the demand curve for a normal good will shift up to the right. The exact size of the shift in demand will depend upon the good itself. An increase in income may cause a small shift to the right in the demand curve for salt, but a larger increase in the demand for cinema tickets. A product is said to be inferior if the demand for that product goes down when the income of the consumers increases. Consumers prefer to buy higher priced substitutes in place of the inferior goods when their income rises. Examples of inferior goods may be ordinary (white) bread, cheap cheese (“lor”) or fake brand (imitation) jeans. The correct answer is Choice D.

Yorumlar
  • 0 Yorum