Economy, asked by arpita3999, 1 year ago

what are inferior goods?

Answers

Answered by krisha66
4
In economics, an inferior good is a good whose demand decreases when consumer income rises, unlike normal goods, for which the opposite is observed. Normal goods are those for which demand rises as consumer income rises.
Answered by ni7044262389
0

Answer:

inferior goods are those goods for which income effect is negative. The demand for such goods decreases when income of the consumer rises and vice versa.

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