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What's an inferior good

Anonymous

∙ 8y ago

Updated: 12/13/2022

poor quality

Wiki User

∙ 8y ago

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When people buy less of a certain good as their income increases this is what?

This is known as a inferior good. Inferior goods are goods for which demand decreases as consumer income rises. Examples include generic products or lower-quality items that consumers may opt for when their budget is tight.

What is the function of superior and inferior venacava?

What does the inferior venacava do

When will an inferior planet be closest to Earth?

At "inferior conjunction".

Whats the best type soil to grow oranges in?

fertizlalied soil or good soil and dry soil

What is inferiorly?

It is the adverb form of the word "inferior" which means of lower rank or importance. The antonym of "inferior" is "superior".

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?

Whats in the middle of normal goods and inferior goods on a graph call?

i think their is a lot of goods in South Carolina

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 are the different types of goods?

Luxury Good, Normal Good, and Inferior Good.

Another way of saying not as good as?

inferior to

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

How could demand for an inferior good decrease?

Demand for an inferior good could decrease if consumers experience an increase in income, leading them to prefer higher-quality alternatives. Additionally, if the price of a substitute good falls significantly, consumers may shift their preferences away from the inferior good. Changes in consumer preferences or trends that favor superior goods can also contribute to a decline in demand for inferior goods.

What is the moral lessons of Beowulf?

do whats right and whats good for majority

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