In order to comprehend the ontological construction below, please refer to the respective posts for all notions in italic.
Normal goods are all commodities which supply and demand is not generally affected by the income alterations. Whatever the size of income, the normal goods are traded in the same way and the income is expressed appropriately by them. They are moderate in price: not cheap – as the inferior goods – and not expensive – as the luxury goods – in accordance to the market conditions. The opposition of inferior good and luxury good is overcome in the normal good, which presents the compromise between the cheap and the expensive products. The normal commodities sustain the market in its profit acquisition.
Historical Backdrop
• ERNST ENGEL The Cost of Living for the Belgian Working Families Earlier and Now: normal good.
• FRIEDRICH WIESER Natural Value: goods with medium prices.
• TORSTEN VEBLEN Theory of the Leisure Class: accepted standard of expenditure.