Inferior goods are affordable substitutes for more expensive goods. Which of the following is an example of someone purchasing an inferior good?         Tom saved his money for an entire year so that he could buy the nicest car on the lot.         Susan decided to buy her favorite pasta, rather than the store-brand pasta that she usually purchases.         Sam had to stay within his budget, so he decided to buy generic toaster pastries instead of his favorite brand-name pastries.         Jennifer earned a bonus at work, so she decided to go out to dinner at a fancy restaurant.

ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
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Inferior goods are affordable substitutes for more expensive goods. Which of the following is an example of someone purchasing an inferior good?
 
 
 
 
Tom saved his money for an entire year so that he could buy the nicest car on the lot.
 
 
 
 
Susan decided to buy her favorite pasta, rather than the store-brand pasta that she usually purchases.
 
 
 
 
Sam had to stay within his budget, so he decided to buy generic toaster pastries instead of his favorite brand-name pastries.
 
 
 
 
Jennifer earned a bonus at work, so she decided to go out to dinner at a fancy restaurant.
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