Economy, asked by pranalirsapale09, 3 months ago

Identify and Explain the concepts from the given illustration ) Santosh instead of demanding more, reduced the demand for vegetable ghee as his

salary increased.
​

Answers

Answered by reenapal994
8

Answer:

negative income elasticity of demand

Explanation:

when demand for certain commodity decrease due to increase in income only, it is know as negative income elasticity of demand.( inverse relationship between the demand and income) inferior/Griffen goods have negative income elasticity of demand.

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