Explain the Difference Between a Normal Good and an Inferior

question 98

Essay

Explain the difference between a normal good and an inferior good.

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Definitions:

Trade Secrets

Confidential business information that provides an enterprise with a competitive edge, and is therefore protected from disclosure.

Breach of Confidence

The unauthorized use or disclosure of confidential information that has been communicated in confidence.

Computer Software

Programs and other operating information used by a computer to perform specific tasks.

Confidential Information

Private information, the disclosure of which would be injurious to a business; a type of intellectual property.