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what does normal good mean?
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Asked 4/10/2014 6:05:34 AM
Updated 4/10/2014 7:02:03 AM
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User: what does inferior goods mean?

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Asked 4/10/2014 6:05:34 AM
Updated 4/10/2014 7:02:03 AM
2 Answers/Comments
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Inferior goods are goods for which a change in income causes an opposite change in demand.
Added 4/10/2014 7:01:18 AM
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In economics, normal goods are any goods for which demand increases when income increases, and falls when income decreases but price remains constant, i.e. with a positive income elasticity of demand.
Added 4/10/2014 7:02:03 AM
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what does disincentives mean?
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Updated 4/10/2014 7:13:52 AM
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Disincentives mean something that prevents or discourages action; a deterrent.
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The marginal cost of making a computer is $75. At a computer price of $100, a producer _____. earns profits just covers costs loses money
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Updated 4/10/2014 7:16:15 AM
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The marginal cost of making a computer is $75. At a computer price of $100, a producer earns profits.
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What is marginal analysis?
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Updated 10/3/2017 6:07:21 AM
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Marginal analysis is an examination of the additional benefits of an activity compared to the additional costs incurred by that same activity.




Added 10/3/2017 4:56:34 AM
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Confirmed by selymi [10/3/2017 6:07:23 AM]
describe a command economy
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Updated 4/10/2014 7:12:38 AM
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Command economy, economic system in which the means of production are publicly owned and economic activity is controlled by a central authority that assigns quantitative production goals and allots raw materials to productive enterprises.
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