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3 years ago

What are inferior goods in business?

Business

1 answer:

OleMash [197]3 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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Maurinko [17]

Answer:

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Explanation:

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4 years ago

Assume you receive a 3.5% raise in your 2014 salary for 2015. In addition, suppose the CPI was 238 in 2014 and 240 in 2015. Your

GalinKa [24]

Answer: a. increased

Explanation:

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3 years ago

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4 years ago

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A plot in Cartesian axes.
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3 years ago

What are inferior goods in business?​

What are inferior goods in business?