A commodity is defined as normal when its demand changes ...
A commodity is defined as normal when its demand changes in the same direction as______
Income
Price
Taste
Preference
Correct answer is A
A commodity whose income elasticity is positive is a normal good because more of it is purchased as the consumer's income increases.
An increase in the circulation of money without a corresponding increase in output will lead to ...
Holding money to take care of contigencies is? ...
The main industrial cities in Nigeria are ...
The largest part of the revenue of a country is derived from ...
Which of the following explains marginal cost? ...
The major problem confronting a sole proprietor is ...
The following are bye-products of crude oil EXCEPT ...