A good the demand for which falls as income rises. The income elasticity of demand is therefore negative.
Related information about inferior good:
- Inferior good - Wikipedia, the free encyclopedia
In economics, an inferior good is a good that decreases in demand when consumer income rises, unlike normal goods, for which the opposite is observed.
- Inferior Good Definition | Investopedia
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 ...
- The Difference Between Inferior and Normal Goods - Yahoo! Voices ...
Nov 8, 2008 ... Thus, ramen noodles are an inferior good. In other words, quantity demanded of ramen noodles falls as incomes rise. There is a negative ...
- What is inferior good? definition and meaning
Definition of inferior good: Not a substandard-good, but the term in economics for an item for which income elasticity of demand is less than zero. As the ...
- Inferior Good - Dictionary Definition of Inferior Good
Inferior Good Defined - A Dictionary Definition of Inferior Good.
- Inferior Good Definition & Example | InvestingAnswers
We explain the definition of an Inferior Good, provide a clear example of how it works and explain why it's an important concept in business, finance & investing.
- Inferior good: Definition from Answers.com
Good of which less is consumed (rather than more) when the consumers income increases. For some consumers hamburger is an inferior good because when ...
- Normal and Inferior Goods | Microeconomics | Khan Academy
So this, an inferior good,; does the opposite of a normal good; when we're talking about the income effect,; the inferior good will do the opposite of a normal good ...