Examples of Normal and Inferior Goods

In microeconomics, two types of goods are often distinguished on the basis of the behavior of each in the face of demand the consumer. We refer to the normal goods and the inferior goods, whose difference can be stated as follows:

In this way, consumer goods can be of one type or another. Let's look at an example of each:

A bottle of fine imported wine is usually a high-priced commodity, so if you have little money, you cannot buy it. But if he changes jobs and starts earning more, he can start buying himself a bottle from time to time. And if, over the years, you move up in the new job and start earning even more, then you can afford a bottle of imported wine much more regularly. Goods governed by this logic are known as normal goods.

The same does not happen, however, with junk food. A person of few resources will probably have to settle for a quick and cheap lunch on the street every day. But if that person changes jobs and starts earning much better, he will be able to aspire to a better quality lunch and will continue to eat junk food from time to time. And if, after a few years, he gets promoted at work and earns a hell of a lot more, he may never again eat junk food, because now you can choose from many other healthier options and appetizing. Goods governed by this logic are known as

Types of normal goods

Not all normal goods are created equal, however. They are usually divided into two categories: superior goods (or luxury goods) and essential goods (or necessary goods). and they differ as follows:

Examples of normal goods

Examples of normal goods are the following:

1. The food and drink that we buy in the supermarket and that we prepare at home.
2. Electricity, fixed telephony or running water services.
3. Appliances such as refrigerators, stoves, irons, etc.
4. Foreign trips.
5. Technological devices such as computers, cell phones, tablets, video game consoles.
6. Vehicles purchased from agency: cars, motorcycles, boats.
7. The ordinary clothes and the exclusive designer clothes.
8. Postgraduate studies at public or private universities.
9. Fruits, vegetables and vegetables from the supermarket.

Examples of Inferior Goods

Examples of inferior goods are the following:

1. Street or junk food.
2. Foodstuffs of the basic food basket.
3. Second-hand clothing and footwear.
4. Immediate supply supplies in the supermarket because they are about to expire.
5. The public services subsidized or regulated price.
6. Automobiles and other used vehicles.
7. Artifacts and devices that have exceeded their established useful life.

References:

• “Fairly normal” in Wikipedia.
• “inferior good” in Wikipedia.
• "Goods in polynomials.
• “Normal and Inferior Goods” (video) at khan academy.

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