Question

Which of the following statements about inferior goods is/are FALSE?I. Inferior goods are those that we will never buy, no matter how cheap they are.II. Inferior goods are those that we buy more of, if we become poorer.III. Inferior goods are those that we buy more of, if we become richer. *

1 point

I only

II only

I and III only.

I, II, and III.

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Answer 1

Answer:

II only i.e. Inferior goods are those that we will never buy more of, we become poorer

Answer 2

Answer: I and III only

Explanation: