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If a consumer's income increases and if all goods are normal goods,
Bonds Payable
Long-term liabilities represented by bonds that a company has issued, promising to repay the principal amount along with interest on specified dates.
Long-Lived Assets
Assets that are expected to provide economic benefits to a company over a period longer than one year, such as buildings, machinery, and land.
Physical Substance
A characteristic referring to tangible assets which have a physical form and presence, as opposed to intangible assets like patents or copyrights.
Intangible Assets
Non-physical assets that have a value to the company, such as intellectual property, brand recognition, and goodwill.
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