Which of the following best describes a normal good?
A) An increase in the price of the product leads to an increase in the level of quantity demanded.
B) A reduction in the price of the product leads to a decrease in the level of quantity demanded.
C) An increase in the consumer's income causes a decrease in the demand.
D) A reduction in the consumer's income causes an increase in the demand.
E) None of the above is correct.

Question

Quizplus · Accepted Answer

Normal goods are those for which demand increases as consumer income increases, and demand decreases as income decreases, which is not described by any of the provided options.

Which of the Following Best Describes a Normal Good