Goods are described as inferior if their demand
ECONOMICS
WAEC 2020
Goods are described as inferior if their demand
- A. decreases as price falls
- B. increases as income rises
- C. decreases as income increases
- D. increases as price increases
Correct Answer: C. decreases as income increases
Explanation
In economics, an inferior good is a good whose demand drops when people's incomes rise.
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