Normal goods
What Normal goods means in Business GCSE, as defined for AQA, OCR.
Definitions of Normal goods
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Reference: AQA
Products for which demand usually rises as income rises, as a family with more disposable income may eat out more often.
Products for which demand increases when consumer income increases.
Topics that use Normal goods
- The economic climate on businesses (AQA GCSE)
- The economic climate (OCR GCSE)
Related terms
- Disposable Income
- Economic Climate
- Inferior goods
- Unemployment
- Business investment decisions
- Cash flow and profit
- Confidence and debt levels
- Consumer spending
Using Normal goods in the exam
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