A Normal Good Is Defined by Economists to Be a Good

question 95

Multiple Choice

A normal good is defined by economists to be a good

• A) with a negatively-sloped demand curve.
• B) that is purchased by at least 75 percent of the population.
• C) that is bought by consumers with normal tastes.
• D) whose demand increases when incomes increase.
• E) whose demand decreases when incomes increase.

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Definitions:

Generation Z

The post-millennial generation, which includes consumers born between 1997 and 2010.

Largest Living Generation

A demographic term often used to describe the population segment with the highest number of living members at a given time.

Millennials

The generation of people born approximately between the early 1980s and late 1990s to early 2000s, known for their familiarity with technology and digital environments.

Nearing Retirement Age

The stage in a person's life when they are approaching the age at which they are eligible to retire from work.