Question 33
EasyOriginal questionAn inferior good is one whose demand
Show the answer and explanation
CorrectNot quiteAnswer B
Correct answer: B
Explanation
As income rises, buyers switch from an inferior good to a better one, so its demand falls.
Coarse grains for a household that can now afford better grains are a common example.
- Concept
- Inferior goods
- Typical timeTypical
- 40 s
- Your timeYours
- —
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