Answer to Question 1
By definition an income inelastic good is one whereby the consumer does not change their consumption very much compared to the change of their income. If the consumption changes in the same direction by a percentage less than the change in income then the good in question is income inelastic or a necessity good. In the case of winning the lottery it is unlikely that consumption of the good in question will rise very much compared to the increase income from the winnings.
Answer to Question 2
Fish in the ocean are a common resource because they are rival, so that one person catching a fish prevents others from catching the same fish, and they are nonexcludable, so that no one can be prevented from fishing. As a result, over-fishing is likely to occur. But cattle grazing in a farmer's pasture are not a common resource. The cattle are rival, so that one person butchering a steer prevents others from butchering the same steer, but the cattle are excludable, so that no one can butcher a steer unless the cattle's owner is compensated. As a result, the owner has the incentive to conserve the resource, that is, the owner has the incentive to insure that the cattle are not overused.
good to eat
Good computer skills are now required to be a successful member of an office staff.
Good hand and body mechanics when applying thumb pressure to the back.
Kneeling on one knee to keep good alignment when massaging the arms and hands.
Rice noodles are a good gluten-free substitute for pasta
E9-23 Prepare income statements Explain the difference in operating income