Question

Difference between inferior and normal goods.Is a good which is inferior for one consumers also inferior for all consumers.Explain.Answers

Answer 1

Answer:

hEllo IDK here

inferior goods

inferior goods are those in which there is decrease in demand as the income of the consumer increases.

normal goods

Normal goods are those which increase as income of consumer increases. This shows positive relationships.

no as the inferior goods are directly dependent on the income so it will have less value for rich n higher value ofr poor consumers