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What are the types of good in the demand curve?
Some types of good are as follows:
• Normal good:
When incomes of consumers/households increase the quantity demanded would increase also for instant the demand curve would shift to right.
• Inferior good:
When incomes of consumers/households increase the quantity demanded would go down as example the demand curve would shift to left.
• Giffen good:
When the price of the good or service increases the quantity demanded would increase also and vice versa as like an example of an upward sloping demand curve.
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