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Match the Person or Term with the with the Correct

question 39

Multiple Choice

Match the person or term with the with the correct description.
-Leo Frank


Definitions:

Inferior

A type of good for which demand decreases as the income of consumers increases.

Normal Good

A good whose demand increases as the income of consumers increases, and vice versa.

Normal Good

A type of good for which demand increases as the income of consumers increase, demonstrating a positive correlation between income and demand.

Inferior Good

A type of product whose demand decreases when the income of consumers increases, inverse to normal goods.

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