Question

If incomes increase during a period of expansion, goods considered to be inferior will experience?

Answer 1

If incomes increase during a period of expansion, goods considered to be inferior will experience:

• A decrease in demand

What are inferior goods?

Inferior goods are those types of goods that consumers have little or no interest in. These goods are mostly sought after when the economy is tough and people have no option but to purchase them.

However, when the economy improves and there is an expansion, people will naturally return to the goods that they believe have superior quality. When they make this move, the inferior goods will experience a decrease in demand.

Learn more about inferior goods here:

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