Explore normal goods in economics. Read the definition of a normal good and see how it differs from an inferior good. See examples of normal and inferior goods. Related to this Question The price of a good increases when it becomes relati...
As opposed to normal necessity and luxury goods, inferior and Giffen goods exhibit decreasing consumer demand as consumers’ incomes rise. However, Giffen goods, similar to luxury goods, experience increasing relative consumer demand as prices rise. For more on inferior and Giffen goods, see the li...