Economics · Elasticity of Demand
The income elasticity of demand is expected to be greater than 1 for which type of goods?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
Share:
- 1Luxury goods✓
- 2Necessity goods
- 3Giffen goods
- 4Inferior 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 Elasticity of Demand MCQs →Want more practice questions on Elasticity of Demand?
Solve complete topic-wise tests with detailed solutions on GkGet.
Related Practice Questions
Recommended practice questions in Economics · Elasticity of Demand