What Is a Normal Good?​

question 66

Multiple Choice

What is a normal good?​

• A)​A good whose demand increases when income decreases
• B)A good whose demand decreases when income decreases
• C)A good whose demand increases when price increases
• D)​Both B&C

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Definitions:

Intrinsic Motivation

The desire to behave in a certain way because it is enjoyable or satisfying in and of itself.

External Rewards

Incentives provided by an external source, such as money or praise, that motivate individuals to perform certain tasks.

Tension

A mental or physical state resulting from stress or strain, often characterized by feelings of anxiety or discomfort.

Primary Drives

States of tension or arousal that arise from a biological need and are unlearned.