If less of a good is bought as one's income increases, such a good is...
ECONOMICS
WAEC 2019
If less of a good is bought as one's income increases, such a good is
- A. a normal good
- B. a luxury
- C. a necessity
- D. an inferior good
Correct Answer: D. an inferior good
Explanation
An inferior good is one whose demand drops when people's incomes rise.
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