Economics · Income Elasticity of Demand
For which type of goods is the income elasticity of demand high?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
Share:
- 1Inferior Goods
- 2Normal Goods
- 3Luxury Goods✓
- 4Necessity Goods
Correct answer
Luxury Goods
Download Single Question PDF
Save this question and verified answer as a clean study sheet with live clickable link.
👥
Share with Friends & Study Groups
Challenge your peer aspirants on WhatsApp or Telegram to solve this question!
Online Test Series
Start Free Mock Test →Preparing for Economics?
Practice full-length mock tests with real exam timers, instant score analysis, and all-India ranking.
Chapter Practice
Practice Income Elasticity of Demand MCQs →Want more practice questions on Income Elasticity of Demand?
Solve complete topic-wise tests with detailed solutions on GkGet.
Related Practice Questions
Recommended practice questions in Economics · Income Elasticity of Demand