the income elasticity of demand is negative for a
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The income elasticity of demand is negative for INFERIOR GOODS.
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Inferior Goods
Explanation:
A negative income elasticity of demand is associated with Inferior Goods ; an increase in income will lead to a fall in the demand and may lead to changes to more luxurious substitutes. A positive income elasticity of demand is associated with normal goods; an increase in income will lead to a rise in demand.
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