An inferior good is _____
A)any good of low quality.
B)one that consumers buy less of as the price rises.
C)one that consumers buy less of as their income rises.
D)one that has few substitutes.
E)any good made with inexpensive inputs.

Question

Quizplus · Accepted Answer

An inferior good is one that consumers buy less of as their income rises. This is because consumers will typically switch to a superior good as they become more able to afford it. Examples of inferior goods include instant noodles, used cars, and public transportation.

An Inferior Good Is _____