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An inferior good is a good whose quantity demanded decreases when consumer income rises (or quantity demanded rises when consumer income decreases). In economics, a luxury good (or upmarket good) is a good for which demand increases more than proportionally as income rises Necessity Goods are those goods for which demand increases proportionally less than income Anormal goodis agoodor service that experiences an increase in quantity demanded as the real income of an individual or economy rises. Anormal goodis defined as having an incomeelasticityof demand coefficient that is positive but less than one. Agoodcan also be classified as a luxurygoodor inferiorgood.
Which of the following is/are not Green House Gases?
1. Nitrous oxide
2. Ozone
3. Sulphur dioxide
Select t...
Which one of the following is “Macaroni Wheat”?
Aminoethoxyvinylglycine (AVG) is an inhibitor of which of the following compound?
Agricultural census is conducted by Ministry of Agriculture and Farmers’ Welfare in every ___ year with participation of states and UTs since 1970 as ...
What is the reason for the red colour of the red soil?
If the water potential of pure water is equal to zero, what does it mean?
A. Water with solutes
B. Water contains solutes and gases <...
Under agroforestry system, ____________ tree shows allelopathic effect on cultivated crops.
Which order has Piercing and sucking type of mouth parts?
The testing process in which the uniform application of desired seed rate ensured before operation of seed drill is specifically called
The marginal product of a factor input initially rises with its employment level, but after reaching a certain level of employment, it starts falling. ...