An Inferior Good Is One for Which an Increase in Income

question 48

Multiple Choice

An inferior good is one for which an increase in income causes a(n)

• A) decrease in supply.
• B) increase in demand.
• C) increase in supply.
• D) decrease in demand.

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Definitions:

Team-oriented

A focus or preference for working collaboratively in groups or teams to achieve common goals.

Autonomous

Having the ability or power to make decisions independently, without external influence or control.

Humane Orientations

Leadership or organizational cultures that prioritize compassionate, ethical, and people-centric values and practices.

GLOBE Studies

Cross-cultural research studies focusing on understanding the impact of culture on leadership and organizational behavior.