What happens to the demand of a good when consumer's income change ?

1.	What happens to the demand of a good when consumer's income change ?
Answer» Solution :If the good is a NORMAL good, then an increase in income of the consumer leads to an increase in DEMAND of the commodity and vice-versa WHEREAS if the good is an INFERIOR good an increase income of the consumer leads to a DECREASE in demand of the commodity and vice-versa.

Discussion