The Law of Demand states that as consumers' incomes increase, the demand for normal goods increase.

Name: The Law of Demand states that as consumers' incomes increase, the demand for normal goods increase.
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The Law of Demand states that as prices increase, the quantity demanded decreases, all other factors held constant. It does not relate to changes in consumer income. However, the concept of normal goods states that as consumer income increases, the demand for normal goods also increases.

The Law of Demand States That as Consumers' Incomes Increase