An inferior good is a type of good whose demand declines when income rises. In other words, demand of inferior goods is inversely related to the income of the consumer. Description: For example, there ...
Will Kenton is an expert on the economy and investing laws and regulations. He previously held senior editorial roles at Investopedia and Kapitall Wire and holds a MA in Economics from The New School ...
Reviewed by Robert C. KellyFact checked by Suzanne KvilhaugReviewed by Robert C. KellyFact checked by Suzanne Kvilhaug An inferior good is an economic term that describes a good whose demand drops ...
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