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Mar 11, 2010
7:55 PM
"Run baby run! (:"
- yanping(:


omg i saw this on th smb & cant help wanting to post this up (:

Re: Clarification on normal goods [Tutorial #4] From: Wu Shuang Jennifer 11-03-10 To: 10S76

Hi 76,Just to clarify the definition of 'normal good' (the term which appeared in your tutorial #4), normal good refers to a good whose demand rises when incomes rises (and whose demand falls when income falls). Inferior goods, on the other hand, refers to goods whose demand falls when incomes rises (and whose demand rises when incomes falls). So one example of normal good is fine dining restaurants, and that of inferior good may be canteen good. Please ignore the more than proportionate part that i spoke about as it applies only to 'normal luxury goods'. [The concept of luxury and necessities will be taught in lecture series #7.]

Cheers,Ms Jennifer

is this super cool or what! heh :DD a message just for us hahaha, okay im v random.
oh & apparently we hav to hand in the pe slides by tmr, which is seemingly impossible D: howhow ? >< hope other classes also didnt do okay! :d

okay bye classmates! (: