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Commerce · Q301

Economics

Graduate and Post Graduate · Commerce · question 301

Q301

For ____ goods, increase in income leads to increase in demand.

A.
Abnormal
B.
Normal
Answer
C.
Inferior
D.
Superior

Answer: Option B

Solution

Answer: Option B
Solution:
For normal goods, increase in income leads to increase in demand. Rising incomes lead to a rise in the number of goods demanded by consumers.