Inferior Good: Definition, Examples, and Role of Consumer Behavior
KellyFact checked by Suzanne KvilhaugReviewed by Robert C. KellyFact checked by Suzanne Kvilhaug An inferior good is an ...
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What Is the Income Effect? Its Meaning and Example
An example of such an inferior good could be store-brand items: as people become wealthier they may opt instead for more expensive name brands, The income effect describes how an increase in ...