What Is an Inferior Good

question 51

Multiple Choice

What is an inferior good?

• A)a good that everyone normally consumes
• B)a good that inferior people consume
• C)a good for which demand varies directly with household income
• D)a good for which demand varies inversely with household income
• E)a good for which demand does not vary with household income

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Definitions:

Positive Wording

The practice of choosing words that reflect a positive, constructive attitude instead of a negative one.

Extended Warranty

A service contract that extends the warranty period of a product beyond what is offered by the manufacturer.

Replacement Parts

Components that are substituted for the original parts of an item, often due to damage or wear.

Direct Strategy

A communication method that involves straightforwardly presenting the primary message at the beginning of the communication.