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If a workgroup contained three males,one over 55,one 20 and another 30 years of age,and three females,one 50 years of age,one 30 and one 20 years of age,how would you categorize the faultlines in the group?
Inferior Good
A type of good for which demand decreases as the income of the consumer increases, opposite to a normal good.
Normal Good
A type of good for which demand increases as the income of individuals increases, indicating a direct relationship between income and demand.
Demand-Increasing Factor
Elements or conditions that lead to an increase in demand for a product or service, such as a rise in consumer income or a change in tastes.
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