Home > Terms > English, UK (UE) > Normal goods

Normal goods

When average income increases, the demand for normal goods increases, too. The opposite of inferior goods.

This is auto-generated content. You can help to improve it.
0
Improve it
More
Collect to Blossary

Other Languages:

More

Member comments

You have to log in to post to discussions.

Related terms

normal goods
Economy; Economics

When average income increases, the demand for normal goods increases, too. The opposite of inferior goods.

normal goods
Economy; Economics

Normal goods are goods that, as income rises, the demand for the product will also rise. E.g. cinema tickets, Nike shoes.

normal good
Economy; International economics

A good the demand for which rises with income if relative prices do not change. Contrasts with inferior good.

normal good
Economy; Economics

A good for which an increase in income raises the quantity demanded; A good for which, other things being equal, an increase in income leads to an increase in quantity demanded.

normal good
Economy; Economics

A good for which an increase in income directly relates to an increase in demand for that good.

goods
Law; General law

Goods include all materials, articles, commodities and all other kinds of immovable property, but does not include newspapers, actionable claims, stocks, shares and securities.

immaterial economy
Economy; Economics

An economy in which traditional investment in areas such as natural resources, equipment and infrastructures lags behind immaterial items such as training and research and ...

digital economy
Economy; Economics

The digital economy represents the persuasive use of IT (hardware, software, applications and telecommunications) in all aspects of the economy, including internal operations of ...

knowledge management
Economy; Economics

Management of the intellectual product that is generated by associating relationships among items of data and information in a given field. Source: Termium plus. Sub verbis ...

internet economy
Economy; Economics

A business environment created by networks of enterprises conducting e-commerce. (The "I" in "internet is normally spelled with a capital "I") Source: Samarajiva, Rohan. “How the ...

circular economy
Economy; Economics

The discipline which focuses on the design, development, operation, renewal and decommissioning of industrial facilities as ecological systems, with an emphasis on the ...

economic intelligence
Economy; Economics

The techniques for extracting essential information from a large volume of data and presenting it in an easy-to-understand form, hiding all complexity, making it suitable for ...

Terms in the News

Featured Terms

Harry8L
  • 0

    Terms

  • 0

    Blossaries

  • 1

    Followers

Industry/Domain: Health care Category: Optometry

Fresnel prism

A fresnel prism is a type of compact lens originally developed by French physicist Augustin-Jean Fresnel for lighthouses. The design allows lenses to ...

Contributor

Featured blossaries

Video Games Genres

Category: Entertainment   1 1 Terms

Dead Space 3

Category: Entertainment   1 3 Terms

Browers Terms By Category

TERMS

SOCIAL

EXTRAS

SOLUTIONS