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Normal Good - Unlocking Your Economic Choices A Guide to Normal Goods - cover

Normal Good - Unlocking Your Economic Choices A Guide to Normal Goods

Fouad Sabry

Verlag: One Billion Knowledgeable

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Beschreibung

What is Normal Good
 
When it comes to economics, a normal good is a category of a good that experiences an increase in demand as a result of an increase in income. This is in contrast to inferior goods, which are seen to experience the opposite of this phenomenon. In the event that there is an increase in a person's income, for instance as a result of a wage increase, a good that is referred to as a normal good is one for which the demand increases as a result of the wage increase. In contrast, when there is a fall in income, such as when wages are reduced or when people are laid off, there is a corresponding decrease in the demand for regular products.
 
How you will benefit
 
(I) Insights, and validations about the following topics:
 
Chapter 1: Normal good
 
Chapter 2: Supply and demand
 
Chapter 3: Elasticity (economics)
 
Chapter 4: Price elasticity of demand
 
Chapter 5: Cross elasticity of demand
 
Chapter 6: Giffen good
 
Chapter 7: Inferior good
 
Chapter 8: Substitute good
 
Chapter 9: Engel curve
 
Chapter 10: Income-consumption curve
 
Chapter 11: Law of demand
 
Chapter 12: Complementary good
 
Chapter 13: Luxury goods
 
Chapter 14: Demand curve
 
Chapter 15: Slutsky equation
 
Chapter 16: Wealth effect
 
Chapter 17: Tax incidence
 
Chapter 18: Demand
 
Chapter 19: Tax efficiency
 
Chapter 20: Necessity good
 
Chapter 21: Income elasticity of demand
 
(II) Answering the public top questions about normal good.
 
(III) Real world examples for the usage of normal good in many fields.
 
Who this book is for
 
Professionals, undergraduate and graduate students, enthusiasts, hobbyists, and those who want to go beyond basic knowledge or information for any kind of Normal Good.
Verfügbar seit: 02.02.2024.
Drucklänge: 229 Seiten.

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