When a consumer's income decreases,the consumer:

Question

Quizplus · Accepted Answer

When a consumer's income decreases, they will have less to spend overall (A). They will also likely buy a smaller quantity of normal goods, as they may not be able to afford their previous levels of consumption (B). In some cases, they may turn to inferior goods, which are lower-quality substitutes for normal goods (C). Therefore, all of the above options are likely outcomes when a consumer's income decreases.

When a Consumer's Income Decreases,the Consumer