Inferior goods differ from normal goods in that as our income rises we are more
likely to increase inferior goods consumption and lower normal goods consumption.

Name: Inferior goods differ from normal goods in that as our income rises we are more likely to increase inferior goods consumption and lower normal goods consumption.
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Question

Inferior goods differ from normal goods in that as our income rises we are more
 likely to increase inferior goods consumption and lower normal goods consumption.

Quizplus · Accepted Answer

Inferior goods are those for which demand decreases as income increases, whereas for normal goods, demand increases as income increases.

Inferior Goods Differ from Normal Goods in That as Our