Inferior goods are best defined as A) goods that only those who are relatively poor purchase. B) goods that have higher-quality alternatives. C) goods whose demand falls as people's income rises. D) goods whose supply falls as people's income rises
Inferior goods are best defined as A) goods that only those who are relatively poor purchase. B) goods that have higher-quality alternatives. C) goods whose demand falls as people's income rises. D) goods whose supply falls as people's income rises
Chapter3: Market Demand And Supply
Section: Chapter Questions
Problem 3SQ
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Inferior goods are best defined as
- A) goods that only those who are relatively poor purchase.
- B) goods that have higher-quality alternatives.
- C) goods whose demand falls as people's income rises.
- D) goods whose supply falls as people's income rises
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