Question

Inferior goods are those goods whose income effect is?

A  Negative

B  Positive

C  Zero

D  None of these

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Answer 1

Answer:

Inferior goods are goods for which demand declines as consumers real incomes rise, or rises as incomes fall. This occurs when a good has more costly substitutes that see an increase in demand as the society's economy improves

Answer 2

Inferior goods are goods for which demand declines as consumers real incomes rise, or rises as incomes fall. This occurs when a good has more costly substitutes that see an increase in demand as the society's economy improves.

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