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Inferior or substitute products
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∙ 8y ago
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When people buy less of a certain good as their income increases this good is considered .?
inferior
When people buy less of a good as their income increases the good is considered what?
inferior
When people buy less of a certain good as their income increases this good is considered A?
inferior
Why is high income good?
The more income you have, the more stuff you can buy. Of course, the down side is that some people obsess and spend all their time worrying about protecting their money and all the stuff they bought and enjoy life less than when they had less income.
What do you call a good whose income elasticity is less than 0?
A sticky good
When people buy less of a good as their income increases the good is considered what?
inferior
When people buy less of a certain good as their income increases this good is considered .?
inferior
When people buy less of a certain good as their income increase this is good considered?
inferior
When people buy less of a certain good as their income increases this is good is considered?
inferior
When people buy less of a certain good as their income increases this good is considered A?
inferior
When people buy less of a certain good as their income increases this is what?
inferior
Why is high income good?
The more income you have, the more stuff you can buy. Of course, the down side is that some people obsess and spend all their time worrying about protecting their money and all the stuff they bought and enjoy life less than when they had less income.
Why is Saga insurance a good investment?
Saga Insurance is a good investment. Seniors and older people may find that a fixed income investments comes with less financial risk. It allows them to have a fixed monthly income, perfect for retirement.
What do you call a good whose income elasticity is less than 0?
A sticky good
What happens to the equilibrium price and quantity when demand rises less than supply rises?
When price and quantity demanded rises less than supply rises then shortage of goods create.
How does inflation effect savers and person on fixed income?
Inflation is the increase of good and services due to a weakening currency. Ex U.S Dollar A saver will only be able to buy less with inflation in mind. People on fixed income are also restricted and since they are on a limited income their dollar buys less beacuse of inflation.
Demand for ipod is elastic or inelastic?
Ipods are elastic. When the price drops people buy more, when it rises people buy less.
