dylanksarantos52 dylanksarantos52
  • 01-04-2019
  • Social Studies
contestada

when people buy less of a certain good as their income increases, this good is considered

Respuesta :

felipe92nava
felipe92nava felipe92nava
  • 03-09-2019

Answer:

An inferior good

Explanation:

When a good has a more expensive substitute (either because it is of better quality or gives you more status) and it's demand increases when the income improves we can figure out which the inferior goods are. The inferior goods are the ones that are replaced when this occur. So the demand drops when the income improves.  

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