An Inferior Good Is

question 157

Multiple Choice

An inferior good is

• A)any good that consumers think is of low quality.
• B)a good for which the quantity demanded increases as its price decreases.
• C)a good for which the demand rises as income falls.
• D)a good for which the demand rises as income rises.
• E)any good that a producer cannot sell a large quantity of, even at a low price.

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Definitions:

Recent African Origins Hypothesis

The hypothesis that modern humans are all derived from one single population of archaic Homo sapiens who migrated out of Africa after 100,000 years ago, replacing all other archaic forms due to their superior cultural capabilities; also known as the Eve hypothesis or the out of Africa hypothesis.

Homo Sapiens Idaltu

An extinct subspecies of Homo sapiens that lived approximately 160,000 years ago, discovered in Ethiopia.

Recent African Origins Hypothesis

A scientific theory proposing that modern humans originated in Africa and migrated outwards, replacing local populations of archaic humans approximately 60,000 to 70,000 years ago.

Upper Paleolithic

A period of time from about 40,000 until about 10,000 years ago that marks the beginning of "behavioral modernity." The tool industries of this time are characterized by long, slim blades that produced an explosion of creative symbolic forms.