If your income rises and, as a result, you buy fewer packages of Ramen Noodles, then Ramen Noodles are a(n)
A) substitute.
B) normal good.
C) complement.
D) inferior good.

Question

Quizplus · Accepted Answer

Ramen Noodles are considered an inferior good in this scenario because as your income increases, you buy less of them. This is characteristic of inferior goods, where demand decreases as consumer income rises.

If Your Income Rises And, as a Result, You Buy