Arrange the following goods in the ascending order of the underlying income elasticity of demand.
(A) Necessities
(B) Inferior goods
(C) Normal goods
(D) Luxury goods
(E) Giffen goods
Choose the correct answer from the options given below:
1
(E), (B), (A), (C), (D)
2
(D), (C), (B), (A), (E)
3
(E), (B), (C), (D), (A)
4
(A), (D), (C), (B), (E)