Complete Figure 1b by inserting A, B or C in the final column to show the correct classification of each good based on its income elasticity of demand (YED).
You may use the letters A, B and C more than once.
A : Inferior good B : Normal good that is a necessity C : Normal good that is a luxury
| Product | Income elasticity of demand (YED) | Type of good (A, B or C) |
|---|---|---|
| Fresh vegetables | +0.65 | |
| Public bus transport | -0.80 | |
| International holiday flights | +2.50 |
