Explain the meaning of normal goods and inferior goods.

1.	Explain the meaning of normal goods and inferior goods.
Answer» <html><body><p></p><a href="https://interviewquestions.tuteehub.com/tag/solution-25781" style="font-weight:bold;" target="_blank" title="Click to know more about SOLUTION">SOLUTION</a> :<a href="https://interviewquestions.tuteehub.com/tag/normal-1123860" style="font-weight:bold;" target="_blank" title="Click to know more about NORMAL">NORMAL</a> goods are those goods <a href="https://interviewquestions.tuteehub.com/tag/whose-1455415" style="font-weight:bold;" target="_blank" title="Click to know more about WHOSE">WHOSE</a> <a href="https://interviewquestions.tuteehub.com/tag/demand-436956" style="font-weight:bold;" target="_blank" title="Click to know more about DEMAND">DEMAND</a> <a href="https://interviewquestions.tuteehub.com/tag/increases-1040626" style="font-weight:bold;" target="_blank" title="Click to know more about INCREASES">INCREASES</a> with an increase in income of the consumer and vice-versa whereas in case of inferior goods, their demand falls with an increase in income of the consumer and vice-versa.</body></html>

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