I need help in this section of my assignment: Consider income elasticity for an individual or a family's situation. What kind of decisions are made based on this economic theory? Now that you understand the theory try to identify inferior goods and normal goods that are purchased. Describe your observations. Note: you can only observe the here and now,but for income elasticity, you may need to talk with your family to discover income elasticity over time. For example, perhaps your parents' income increased over the past 10 years. Consider how this has changed the products and services you consume.