The quantity demanded of a product increases when consumer incomes increase and decrease when incomes decrease. this product can be classified as a Normal Or Inferior Good.
Normal Goods: A Normal good is one whose demand rises as a result of an increase in consumer income. Demand and income are positively correlated for Normal products. Basic necessities including food, clothing, and domestic equipment are examples of normal products.
The quantity demanded of a product increases when consumer incomes increase and decrease when incomes decrease. this product can be classified as Normal Goods.
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