An inferior good is:A) one whose demand curve will shift rightward as incomes rise.B) one whose price and quantity demanded vary directly.C) one that has not been approved by the Federal Food and Drug Administration.D) not accurately defined by any of these statements.

Question

An inferior good is:A)  one whose demand curve will shift rightward as incomes rise.B)  one whose price and quantity demanded vary directly.C)  one that has not been approved by the Federal Food and Drug Administration.D)  not accurately defined by any of these statements.

Latifah Ashari · Accepted Answer

Final Answer : D, Explanation :  An inferior good is defined as a type of good for which demand decreases as the income of consumers increases, which is not accurately described by any of the provided statements.

An inferior good is:

A) one whose demand curve will shift rightward as incomes rise.
B) one whose price and quantity demanded vary directly.
C) one that has not been approved by the Federal Food and Drug Administration.
D) not accurately defined by any of these statements.

Definitions

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Learning Objectives

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