An inferior good is
A)any good whose demand curve shifts to the left as income rises
B)any good of low quality
C)one that has few substitutes
D)any good produced by inexpensive labor
E)any good that consumers buy less of as its price falls

Question

Quizplus · Accepted Answer

An inferior good is a type of good that consumers demand less of as their income increases. This is shown by a leftward shift in the demand curve. Examples of inferior goods include bargain-brand groceries, used cars, and public transportation.

An Inferior Good Is