Distinction Between Income and Price Effects
| Income change | Price change | |||||
| Normal good | Inferior good | Ordinary good | Giffen good | |||
| Income up | Consumption up | Consumption down | Price up | Consumption down | Consumption up | |
| Income down | Consumption down | Consumption up | Price down | Consumption up | Consumption down | |
Read more about this topic: Ordinary Good
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