A classic example of inferior good is public transportation. When consumer income is low, people use the bus. If the economy grows and consumer income increases, people stop using the bus and buy cars instead. It makes sense to use the bus when people cannot afford a taxi or a car. But...
B.A good for which the cross elasticity of demand with a substitute product is greater than 1 C.A good for which demand will fall as household income rises 相关知识点: 试题来源: 解析 B Rationale: The term 'inferior good' is a technical term in economics. An example of such a good mig...
An inferior good in economics refers to a type of good whose demand decreases as consumer income rises, and vice versa. This contrasts with normal goods, where demand increases with rising income.
What is an example of inferior goods? Inferior Goods: Inferior goods are an interesting type of good that people want to purchase more of when they are in a certain situation. Take away this situation and people are no longer much interested in purchasing these inferior goods. ...
“污”文化作为一种与雅文化相对立的现象，已成为当前网络亚文化的一道新景观。一些号称“油而不腻、黄而不淫”的污言秽语正在青少年之间传播、流行开来。对此，青少年应当( )①推进社会诚信建设，提升利用现代科技的能力②加强思想道德修养，提高抵御腐朽文化的能力③尊重文化的多样性，投身精神文明的创建活动④参加健康...
An example of something that is substandard or of inferior quality. That thing is a poor excuse for a gingerbread man. Hasn't anyone taught you how to bake? He's a sorry excuse for a doctor. Excuse To free from accusation, or the imputation of fault or blame; to clear from guilt; ...
Answer to: What is a normal good? Give an example. By signing up, you'll get thousands of step-by-step solutions to your homework questions. You...
A good for which demand will fall as household income rises
Inferior goodsare goods for which demand actually declines as consumers' real incomes rise, or rises as incomes fall. This occurs when a good has more costly substitutes that see an increase in demand as the economy improves. For inferior goods, the income elasticity of demand is negative, and...
Luxury Item vs. Inferior Good Aninferior goodis a good that experiences less demand as a person's income increases. As a result, it has a negative elasticity of demand. For example, cheap, store-brand coffee would likely see an increase in demand when people's income is low. However, wh...