Examlex
Which of the following statements is correct?
Normal Good
A good for which demand increases as consumer income rises, and decreases as consumer income falls.
Income
The money received by individuals or entities, typically in exchange for providing labor, selling goods, or making investments.
Substitute Goods
Products or services that can replace or be used in place of one another, having the ability to satisfy similar consumer needs or desires.
Iced Tea
A chilled beverage made by cooling brewed tea and typically served with ice, sometimes sweetened or flavored.
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