Sign In
Ask Question
Reginald Rush
Social Studies
26 April, 00:39
What are the inferior goods?
+4
Answers (
1
)
Giana
26 April, 01:08
0
An inferior good is a type of good for which demand declines as the level of income or real GDP in the economy increases. This occurs when a good has more costly substitutes that see an increase in demand as the society's economy improves.
Coffee is a good example. A McDonald’s coffee can be an inferior good compared to Starbucks coffee. Another example of an inferior good is off-brand grocery store products such as cereal or peanut butter.
Comment
Complaint
Link
Know the Answer?
Answer
Not Sure About the Answer?
Find an answer to your question 👍
“What are the inferior goods? ...”
in 📗 Social Studies if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers
You Might be Interested in
Which of the following statements is true of the antislavery societies in the South? Most southerners opposed the antislavery societies. Antislavery societies increased in the South.
Answers (1)
Research on meta-cognitive development shows that by middle childhood, children know that
Answers (1)
Why is it important to be able to break down medical terms into component parts? why not just memorize each term?
Answers (1)
What does it mean to say that jesus christ is the perfect and only mediator between god and humanity?
Answers (1)
Why did Congress pass the Embargo Act in 1807?
Answers (1)
New Questions in Social Studies
What is the religion of most of the Kurds? Christianity Shia Muslim Sunni Muslim Judaism
Answers (2)
Recently, the Mozart effect was studied by Jones and Estell by dividing high school participants into two groups. The first group listened to Mozart's music and the second group did not. Both groups completed a series of spatial problems tasks.
Answers (1)
Coal miners in parts of the great plains in the west use a kind of mining called ..., a process that strips away soil and rock.
Answers (1)
According to the text, the U. S. government is an example of a (n) ___. A) state B) nation C) nation-state D) oligarchy
Answers (1)
Explain the causes and consequences of the war of 1812, why is it often known as the second war of independence
Answers (1)
Home
»
Social Studies
» What are the inferior goods?
Sign In
Sign Up
Forgot Password?