Normal good flashcard sets

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normal good definitions
# Definition Sets
1a good that consumers demand more of when their incomes increase20 sets
2a good for which, other things equal, an increase in income leads to an increase in demand18 sets
3a good for which the demand increases as income rises and decreases as income falls.6 sets
4a good the demand for which rises as income rises and falls as income falls4 sets
5a good whose demand curve shifts rightward when the incomes of buyers increase4 sets
6a good for which the demand increases as income rises and decreases as income falls3 sets
7a good for which the demand rises as income rises and falls as income falls3 sets
8income rises, demand for good rises3 sets
9consumers demand more of when income increases2 sets
10a good, such as new clothes, for which demand increases, or shifts rightward, as consumer income rises2 sets
11a good that consumes demand more of when their income increaes2 sets
12when a rise in income increases the demand for a good2 sets
13a good fro which a rise in income increases the demand for that good the "normal" case1 set
14a good for at which demand rises as income rises1 set
15if an increase in income results in an increase in the demand for the good1 set
16good whose consumption increases with an increase in income.1 set
17a good demanded more when income increases1 set
18goods consumers deal good that consumers demand more of when their incomes increase1 set
19income rises, demand for good rises.1 set
20a good or service whose demand increases as consumer's income increases, assuming prices remain constant1 set
21consumption increases as income increases (positive result for income elasticity of demand)1 set
22a good that when income rises, you buy more of it and vice versa (starbucks, vacations, eating out)1 set
23good (or service) whose consumption rises when income increases and falls when income decreases1 set
24a good that consumer demand more of when their incomes increase1 set
25products whose demand varies directly with money income (also called superior goods)1 set
26products whose demands vary directly with income1 set
27when a rise in income increases the demand for the good- the normal case1 set
28a good for which an increase in income increases demand.1 set
29income falls, demand falls (ice cream)1 set
30if income falls, demand falls1 set
31good that consumers demand more of when their incomes increase1 set
32a good whose demand increases or decreases when people's incomes increase or decrease1 set
33income elasticity>0, substitution and income effects reinforce each other1 set
34when income rises, demand for normal good rises (clothing, dvds)1 set
35an increase in income leads to an increase in demand ex. vacation, jewlery1 set
36a good which demand increases when the income increases and when demand decreases when income decreases1 set
37quantity demanded increases as income increases1 set
38a good whose demand curve shifts rightward when the incomes of buyers increase.1 set
39demand increases as income increases1 set
40a good whose demand is positively related to income (positive income elasticity of demand)1 set