what do you mean by inferior goods? Give examples?
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Definition: An inferior good is a type of good whose demand declines when income rises. Therefore, he will switch his flour demand from jowar to wheat. ... Hence jowar, whose demand has fallen due to an increase in income, is the inferior good and wheat is the normal good
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Definition: An inferior good is a type of good whose demand declines when income rises. In other words, demand of inferior goods is inversely related to the income of the consumer. ... Hence jowar, whose demand has fallen due to an increase in income, is the inferior good and wheat is the normal good.
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