If Income Rises in the Market for a Normal Good

question 253

Short Answer

If income rises in the market for a normal good, will the demand curve for the normal good shift to the right or to the left?

Comprehend theories related to collective behaviour, including contagion theory, convergence theory, and emergent norm theory.

Recognize different forms of crowds such as casual, conventional, expressive, and acting crowds.

Understand the circumstances under which collective behaviour typically arises.

Identify and describe the stages and components of emergent norm theory.