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- Necessity_good abstract "In economics a necessity good is a type of normal good. Like any other normal good, when income rises, demand rises. But the increase for a necessity good is less than proportional to the rise in income, so the proportion of expenditure on these goods falls as income rises. This observation for food is known as Engel's law. The income elasticity of a necessity good is thus between zero and one.Necessity goods are goods that we cannot live without and will not likely cut back on even when times are tough, for example food, power, water and gas.The more necessary a good is, the lower the price elasticity of demand, as people will attempt to buy it no matter the price.Most necessity goods are usually produced by a public utility. According to Investopedia-site, stocks of private companies producing necessity goods are known as defensive stock. Defensive stock are stock that provides a constant dividend and stable earnings regardless of the state of the overall stock market.".
- Necessity_good wikiPageID "17401600".
- Necessity_good wikiPageLength "2216".
- Necessity_good wikiPageOutDegree "13".
- Necessity_good wikiPageRevisionID "684590337".
- Necessity_good wikiPageWikiLink Category:Goods.
- Necessity_good wikiPageWikiLink Category:Microeconomics.
- Necessity_good wikiPageWikiLink Defensive_stock.
- Necessity_good wikiPageWikiLink Dividend.
- Necessity_good wikiPageWikiLink Economics.
- Necessity_good wikiPageWikiLink Engels_law.
- Necessity_good wikiPageWikiLink Income_elasticity_of_demand.
- Necessity_good wikiPageWikiLink Normal_good.
- Necessity_good wikiPageWikiLink Price_elasticity_of_demand.
- Necessity_good wikiPageWikiLink Profit_(economics).
- Necessity_good wikiPageWikiLink Public_utility.
- Necessity_good wikiPageWikiLink Wealth.
- Necessity_good wikiPageWikiLinkText "Necessity good".
- Necessity_good wikiPageWikiLinkText "Necessity_good".
- Necessity_good wikiPageWikiLinkText "necessary a good".
- Necessity_good wikiPageWikiLinkText "necessity good".
- Necessity_good wikiPageUsesTemplate Template:Expert-subject.
- Necessity_good wikiPageUsesTemplate Template:Goodtypes.
- Necessity_good wikiPageUsesTemplate Template:Microeconomics-stub.
- Necessity_good subject Category:Goods.
- Necessity_good subject Category:Microeconomics.
- Necessity_good hypernym Good.
- Necessity_good type Food.
- Necessity_good type Good.
- Necessity_good type Microeconomic.
- Necessity_good type Object.
- Necessity_good comment "In economics a necessity good is a type of normal good. Like any other normal good, when income rises, demand rises. But the increase for a necessity good is less than proportional to the rise in income, so the proportion of expenditure on these goods falls as income rises. This observation for food is known as Engel's law.".
- Necessity_good label "Necessity good".
- Necessity_good sameAs Q3494251.
- Necessity_good sameAs Αναγκαίο_αγαθό.
- Necessity_good sameAs Bien_de_primera_necesidad.
- Necessity_good sameAs Létszükségleti_javak.
- Necessity_good sameAs Būtiniausios_prekės.
- Necessity_good sameAs Dobra_podstawowe.
- Necessity_good sameAs m.04f_jnh.
- Necessity_good sameAs Q3494251.
- Necessity_good sameAs 必需品.
- Necessity_good wasDerivedFrom Necessity_good?oldid=684590337.
- Necessity_good isPrimaryTopicOf Necessity_good.