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Strike441 [17]
2 years ago
14

What are inferior goods in business?​

Business
1 answer:
OleMash [197]2 years ago
4 0

Answer:

Inferior goods are goods that are bought less as income of buyers increase.

Explanation:

In business, inferior goods can be described as goods that experience declines in their demand or sale when the income of buyers or consumers increase.

This implies that there is a negative relationship between the demand of inferior goods and the income of the buyers.

Put in another way, inferiors goods are the more affordable substitutes for goods that are expensive when the income of the consumers fall.

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Gasoline-powered automobile should be the answer.
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After landing an interview with your dream company, you learn that the interview will consist of questions asking you to demonst
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3 years ago
The secret to effective sales is to have a
melamori03 [73]

Answer:

Unique selling proposition (USP)

Explanation:

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2 years ago
Suppose a competitive market is comprised of firms that face identical cost curves. The firms experience an increase in demand t
Verdich [7]

Answer:

(i)New firms will enter the market.

(iii)In the long run, all firms will be producing at their efficient scale

Explanation:

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If firms are earning positive profits, in the long run new firms would enter into the industry and this woold drive positive profits to zero. As a result , firms would be operating at the efficient scale.

I hope my answer helps you

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Answer:  $678,220

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Ending Inventory = $45,600

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= Purchases + Freight in - Purchase discounts - Purchase returns and allowances

= $689,020  + $15,300  - $ 11,000  -  $15,100

= $678,220

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2 years ago
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