If People Purchase Less of a Good When Their Incomes

question 53

True/False

If people purchase less of a good when their incomes go down, the good is an inferior good.

---

Definitions:

Annual Sales

The total value of all sales transactions completed by a business over the course of a year.

Sporting Goods

Items and equipment used for athletic or recreational activities.

Combining Like Terms

The process of adding or subtracting algebraic terms that have the same variable components.

Parentheses

Symbols used in mathematics to group expressions and influence the order of operations.