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Economics

Student Videos

Normal Goods

Level:
AS, A Level, IB
Board:
AQA, Edexcel, OCR, IB, Eduqas, WJEC

In Economics, you will often hear the term “normal goods” – this short revision video explains what they are!

Normal goods have a negative coefficient of price elasticity of demand (PED) and a positive coefficient of income elasticity of demand (YED).

A further distinction can be made between normal necessities and normal luxuries.

Normal Goods

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