An Inferior Good Is One for Which

question 101

Multiple Choice

An inferior good is one for which

• A) demand increases as income increases.
• B) demand decreases as income increases.
• C) the demand curve is vertical.
• D) the demand curve slopes up.

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Definitions:

Closed-ended Questions

Questions formulated in a way that restricts the answers to specific choices, such as 'yes' or 'no,' or a limited set of options.

Subordinates

Refers to individuals who are lower in rank or position and report to someone else within an organizational or hierarchical structure.

Conversation

The informal exchange of ideas, information, or feelings between two or more people, typically through spoken words.

Motivational Value

The intrinsic worth or importance that an individual or group assigns to certain behaviors or outcomes, driving their motivation.