If the income of a consumer rises and his demand for good X falls, good X can be described as
a
a normal good
b
an adnoral good
c
a good with inelastic demand
d
a good with unitary elastic demand
e
none of the above
Explanation
Correct Option
eNo explanation available
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Discussions (4)
Deepthinker581
4 years ago
An inferior good is an economic term that describes a good whose demand drops when people's incomes rise.
chk
1 year ago
the answer is inferior good
because inferior good are goods that people demand less of as their income increase
Lazarus222
2 months ago
but it can also be refer to as abnormal good because as it doesn't follow the law of demand
