austinburnworth08 austinburnworth08

10-06-2024
Social Studies

Answered

3.1.5 Quiz: Supply and Demand: It's the Law
Question 10 of 10
When people buy less of a certain good as their income increases, this good
is considered
Answer here
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Answer :

GinnyAnswer GinnyAnswer

10-06-2024

Final answer:

Inferior goods are those for which demand decreases as consumer income rises.

Explanation:

The good is considered an inferior good when people buy less of it as their income increases. Inferior goods are those for which demand decreases as consumer income rises. This is in contrast to normal goods, where demand increases as income rises.

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