Suppose that the price of good x changes.

Question

Answer

If income effect and own substitution effect of this price change work in the opposite direction, then the good x is necessarily a normal good.

Answer

I f income effect and own substitution effect of this price change work in the opposite direction, then the good x is necessarily a Giffen good.

Answer

If income effect and own substitution effect of this price change work in the same direction, then the good x is necessarily inferior.

Answer

If income effect and own substitution effect of this price change work in the same direction, then the good x is necessarily an ordinary good.

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