People will buy more of an inferior good when their income decreases.

Name: People will buy more of an inferior good when their income decreases.
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An inferior good is a type of good for which demand decreases as consumer income increases. In contrast, when consumer income decreases, the demand for inferior goods increases. For example, when a person's income decreases, they may be more likely to buy generic or store brand groceries instead of more expensive brand-name versions.

People Will Buy More of an Inferior Good When Their