An inferior good is
A)any good that consumers think is of low quality.
B)a good for which the quantity demanded increases as its price decreases.
C)a good for which the demand rises as income falls.
D)a good for which the demand rises as income rises.
E)any good that a producer cannot sell a large quantity of, even at a low price.

Question

Quizplus · Accepted Answer

An inferior good is defined as a good for which demand increases when consumer income decreases, as consumers opt for cheaper alternatives when they have less money to spend.

An Inferior Good Is