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The Himalayan Mountains are rugged, jagged peaks and the Appalachians are smooth and rolling. Why is there a difference
Normal Goods
Goods for which demand increases as the income of the consumer increases and falls when the income of the consumer decreases, all else being equal.
Incomes
Funds earned, frequently in a regular pattern, whether from occupational activities or investments.
Demand
The quantity of a good or service that consumers are willing and able to purchase at different prices during a specific time period.
Perfectly Inelastic
Describes a situation where the quantity demanded or supplied does not change in response to a change in price.
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