Question on: JAMB Economics - 2019
A commodity is defined as normal when its demand changes in the same direction as______
A
income
B
price
C
taste
D
preferences
Ask EduPadi AI for a detailed answer
Correct Option: A
A commodity whose income purchased as the consumer's income increases is a normal good because it's income elasticity is positive.
Add your answer
Please share this, thanks!
No responses