ɪɾ ɪz dᵻfˈaɪnd æz ɐ ɡˈʊd wˌɪtʃ kɹiːˈeɪts ɐn ˈɪŋkɹiːs ɪn kwˈɔntᵻɾi dᵻmˈændᵻd wɛn ðə pɹˈaɪs fɚðə ɡˈʊd dɹˈɑːps ɔːɹ kənvˈɜːsli ɐ dˈiːkɹiːs ɪn kwˈɔntᵻɾi dᵻmˈændᵻd ɪf ðə pɹˈaɪs fɚðə ɡˈʊd ˈɪŋkɹiːsᵻz, sˈɛɾɚɹˌɪs pˈæɹɪbəs.
It is defined as a good which creates an increase in quantity demanded when the price for the good drops or conversely a decrease in quantity demanded if the price for the good increases, ceteris paribus.