Which of the Following Statements Best Describes a Normal Good

question 52

Multiple Choice

Which of the following statements best describes a normal good?

• A) A normal good is a good that is rationed by the government.
• B) A normal good is a good that is readily available in the market.
• C) A normal good is a good whose supply increases with a decrease in its price.
• D) A normal good is a good whose demand increases with an increase in consumers' income.

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Definitions:

Ratio

A quantitative relationship between two numbers indicating how many times the first number contains the second.

Ratio

A quantitative relationship between two numbers, showing how many times the first number contains the second.

Ratio

A quantitative relationship between two numbers indicating how many times one value contains or is contained within the other.

Ratio

An association between two values demonstrating the number of times the initial value encompasses the second.