Asked by
SARIM SHAHAB
on Oct 12, 2024Verified
For inferior goods,an increase in income will cause the,
A) demand to fall.
B) quantity demanded to fall.
C) demand to increase.
D) quantity demand to increase.
Inferior Goods
Products whose demand decreases as the income of the consumer increases, opposite to normal goods.
Income Increases
Situations where individuals or households experience a rise in their earnings, leading to higher purchasing power.
- Acquire knowledge on the definition and properties of inferior goods.
Verified Answer
KB
Learning Objectives
- Acquire knowledge on the definition and properties of inferior goods.