If an increase in income leads to a decrease in the demand for ground beef, then ground beef is a(n):
A)normal good.
B)complementary good.
C)substitute good.
D)inferior good.

Name: If an increase in income leads to a decrease in the demand for ground beef, then ground beef is a(n): A)normal good. B)complementary good. C)substitute good. D)inferior good.
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Question

Quizplus · Accepted Answer

An inferior good is a good for which an increase in income leads to a decrease in demand and a decrease in income leads to an increase in demand.

If an Increase in Income Leads to a Decrease in the Demand