Inferior Goods

Knowledge Center

   

Description of Inferior Goods. Explanation.

Contents

Premium

 

Definition Inferior Goods. Description.


Inferior Goods are goods or services for which an increase in income results in a fall in the amount bought e.g. bread, canned vegetables, and bus transportation. These products will have a negative income elasticity of demand. A positive increase in income leads to a negative change in demand.


An inferior good decreases in demand when the consumer's income rises, unlike Normal Goods, for which the opposite is observed. Inferiority, in this sense, is an observable fact rather than a statement about the quality of the good.


Inferior Goods Special Interest Group


Special Interest Group (1 members)


Inferior Goods Forum  

Recent topics

  What is Giffin's Paradox?
Within managerial economics, what's the meaning of Giffin's paradox?...
     
 
  Online Newspapers as Inferior Goods
Chyi and Yang (2009) did research among US citizens to investigate the economic nature of online newspapers. Although it was initially thought that on...
     
 

Best Practices - Inferior Goods

Expert Tips - Inferior Goods



Advance yourself in business administration and management



Resources - Inferior Goods
 

News about Inferior Goods


     
 

Videos about Inferior Goods


     
 

Presentations about Inferior Goods


     
 

Books about Inferior Goods


     
 

More about Inferior Goods


     



Accelerate your management career



Compare also: Activity Based Costing

Special Interest Group Leader

 
 

Return to Management Hub: Finance & Investing  |  Marketing


More on Management  |  Return to Management Dictionary  | 

 

This ends our Inferior Goods summary and forum.



About 12manage | Advertising | Link to us / Cite us | Privacy | Suggestions | Terms of Service
2018 12manage - The Executive Fast Track. V15.0 - Last updated: 15-11-2018. All names of their owners.