A demand which is positively related to price is true of<...
A demand which is positively related to price is true of
Normal goods
Giffen goods
Ostentatious goods
Capital goods
Correct answer is A
In economics, normal goods are any goods for which demand increases when income increases, and falls when income decreases but price remains constant, i.e. with a positive income elasticity of demand.
Opportunity cost is an economic concept which describes the ...
Frictional unemployment occurs when? ...
Which is an example of an invisible item in the trade Account of Ghana? ...
In any set of data, median represents the ...
Which of the following is a measure of central tendency? ...
Balance of trade can be define as ...
The major problem confronting a sole proprietor is ...
The demand for a factor input as a result of the demand for its output is known as ...
The monetization policy of the Nigerian government is aimed at ...
The technical relationship between the physical inputs and the physical outputs of a firm is ...