Normal & Inferior Goods in Microeconomics Video

Instructions:

Choose an answer and hit 'next'. You will receive your score and answers at the end.

question 1 of 3

As a consumer's income increases, he or she will purchase more _____, such as _____.

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1. What is the definition of a good where there is an inverse relationship between changes in income and a demand curve?

2. A used laptop is an example of a(n):

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About This Quiz & Worksheet

Demand for goods and increases or decreases in income are related in specific ways. These practice questions will ask you about two types of relationships between these variables and what kinds of things fall into each category of economic goods.

Quiz & Worksheet Goals

With this quiz, test your knowledge of:

  • Direct and inverse relationships between a person's income and demand for goods
  • Goods that fall into various economic categories
  • What a shift in the demand curve represents

Skills Practiced

  • Interpreting information - demonstrate an understanding of why demand curves shift
  • Defining key concepts - define types of goods in microeconomics given a description of the relationship between income and demand for goods
  • Knowledge application - correctly categorize examples of economic goods

Additional Learning

Read the corresponding lesson called Normal & Inferior Goods in Microeconomics to learn more about this topic. The lesson covers:

  • Types of goods
  • Inverse relationships between income changes and the demand curve
  • Direct relationships between income changes and the demand curve
  • A real-world example of how an individual's demand for different types of goods changes with shifts in income
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