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compliance cost (DO)<br />The cost of complying with a government regulation, including taxation. Such costs are incurred by the private sector and by governmental organizations below the level of central/federal government. The costs of compliance include accountants' fees and the OPPORTUNITY COST of the time spent filling in forms.
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normal good (DO)<br />A good whose demand increases as income rises. Such a good will have an INCOME ELASTICITY OF DEMAND more than one.<br /><em>See also:</em> inferior good normal price (04)<br />MARSHALL's notion of an equilibrium price_<br /><em>See also:</em> natural price
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