Goods for which e_I 1 are often referred to as:

Name: Goods for which e I > 1 are often referred to as:
Brand: Quizplus
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Question

Goods for which e_I > 1 are often referred to as:

Quizplus · Accepted Answer

Goods for which e_I > 1 are called cyclical normal goods. This means that the income elasticity of demand is greater than one, indicating that the demand for the good is highly responsive to changes in income. This is typically observed for goods that are considered luxury items or discretionary purchases, such as high-end consumer electronics, luxury cars, and high-end clothing.

Goods for Which EI > 1 Are Often Referred to As

Goods for Which E_I > 1 Are Often Referred to As