Normal Good

An item for which demand rises when income rises and falls when income falls. Name brand cereal (compared to store brand cereal) would be an example of a normal good.

See also Inferior Good, Opportunity Cost and Random Walk.

This bit of jargon has been viewed 31,578 times.

Blog Link Copy to Clipboard
What is this?

Return To Economics Jargon

Home | Add Jargon | F.A.Q | About | Contact
© 2020 JargonDatabase.com

Jargon Database is sponsored by Profit Awareness - discover your best clients, and get rid of your bad ones (Check out out business practices blog here)

Jargon Database was built by the best web development agency in Atlanta Georgia - Digital Tool Factory