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A good or service whose consumption declines as income rises (and conversely), price remaining constant
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∙ 12y ago
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When people buy less of a good as their income increases the good is considered what?
inferior
Are chips and salsa an inferior or normal good?
they can be a normal good ou inferior good its depend where has more demand.
Is coffee an inferior good?
no
How do you show that in a two good world neither good is inferior?
If the income elasticity of demand is negative for both goods, then they are both not inferior goods.
What are the different types of goods?
Luxury Good, Normal Good, and Inferior Good.
Is the apex of the heart superior or inferior to other parts?
By definition, apex is the lowermost and outermost portion of the heart. So it has to be inferior.
When people buy less of a good as their income increases the good is considered what?
inferior
Are chips and salsa an inferior or normal good?
they can be a normal good ou inferior good its depend where has more demand.
What is the definition of substandard homes?
shoddy, low quality, inferior, second-rate
Is coffee an inferior good?
no
How do you show that in a two good world neither good is inferior?
If the income elasticity of demand is negative for both goods, then they are both not inferior goods.
Can you put inferior in a sentence?
In my opinion the PlayStation 3 is a far inferior system to the Xbox.Don't feel inferior, you played just as good as him, and you were really unlucky not to win.That hot dog is of inferior quality.
What's an inferior good?
poor quality
Another way of saying not as good as?
inferior to
What are the different types of goods?
Luxury Good, Normal Good, and Inferior Good.
Is alcohol an inferior good?
Because alcohol consumption goes up when an economy goes down, alcohol is indeed an inferior good from an economics standpoint.
When people buy more of a certain good this good is considered what?
The answer is inferior
