Multiple Choice Questions on Income elasticity of demand for normal goods is always ........ for SEBI Grade A ( Officer) Exam Preparation

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Multiple Choice Questions

Income elasticity of demand for normal goods is always ........

Economics- Phase (I & II) Demand and Supply , Market Structures
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    Income elasticity of demand for normal goods is always

    1

    Incorrect Answer

    Negative

    Incorrect Answer

    More than 1

    Incorrect Answer

    Positive

    Correct Answer
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    Explanation:

    Income elasticity of demand for normal goods is always Positive. A positive income elasticity of demand is associated with normal goods; an increase in income will lead to a rise in demand.

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