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What is the name of those products whose demand will increase as a result of an increase in income?

Investments Financial Accounting Financial Economics Economics Finance
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Question added by Sultan Alghamdi
Date Posted: 2016/02/23
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Deleted user
by Deleted user

Luxury goods. A general increase in income means an increase in disposable income which is usually used for luxury goods.

Frank Mwansa
by Frank Mwansa , ACCOUNTING LECTURER , FREELANCER

  A product is called a normal good if an increase in income raises its sales

Afzan Kaleel
by Afzan Kaleel , Senior Accountant , Kidzania - Qatar

Luxury goods - e.g. Luxury branded items.

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