Economics B A-Level
Normal luxury good
What Normal luxury good means in Economics B A-Level, as defined for Pearson Edexcel.
Definition of Normal luxury good
Check what you remember
Read the wording for your board, then hide it and explain Normal luxury good in your own words. Rough notes are fine. This is a self-check, with no mark or grade.
Reference: Pearson Edexcel
A good whose YED value is greater than 1.
Topics that use Normal luxury good
- Income elasticity of demand (YED) (Pearson Edexcel A-Level)
Related terms
- Economic cycle
- Income elasticity of demand (YED)
- Inferior good
- Percentage change
- Product portfolio management
- Luxury good
- Normal good
- Strategic planning
Using Normal luxury good in the exam
Check the command word and mark scheme for your exact question. After comparing your explanation with the reference, use the term in an answer on the linked topic. This practice does not predict an exam mark.
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