goods whose demand vary directly with money income are called?
ECONOMICS
WAEC 2018
goods whose demand vary directly with money income are called?
- A. inferior goods
- B. complementary goods
- C. substitutes
- D. normal goods
Correct Answer: D. normal goods
Explanation
Normal goods are a type of goods whose demand shows a direct relationship with a consumer's income. A normal good is one whose demand increases when people's incomes or the economy rise.
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