Inferior goods are generally purchased at low levels of income but not at high levels of income.

Name: Inferior goods are generally purchased at low levels of income but not at high levels of income.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

Inferior goods are those goods for which demand decreases as income increases, meaning they are more frequently purchased by consumers with lower levels of income and less so by those with higher incomes.

Inferior Goods Are Generally Purchased at Low Levels of Income