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3 years ago

If the economy goes into a recession and incomes fall, what happens in the markets for inferior goods?.

Business

1 answer:

Paraphin [41]3 years ago

5 0

When there is a recession and a fall in income, in the markets for inferior goods, demands increase.

<h3>What are inferior goods?</h3>

Inferior goods are goods whose demand falls when income rises and increases when income falls.

<h3>What is a recession?</h3>

A recession is when there is a negative gross domestic product for four consecutive periods. When there is a recession, there is a decline in productivity in the economy.

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