By Definition, an Inferior Good Is a

question 106

Multiple Choice

By definition, an inferior good is a

• A) want that is not expressed by demand.
• B) normal substitute good.
• C) good for which demand decreases when its price rises.
• D) good for which demand decreases when income increases.

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Definitions:

Maslow

Refers to Abraham Maslow, an American psychologist known for creating Maslow's hierarchy of needs, a theory of psychological health predicated on fulfilling innate human needs.

Appreciate

The recognition and enjoyment of the good qualities of someone or something, often leading to a sense of gratitude.

Self-actualize

The process of realizing or achieving one's potential and capacities, making it a key goal in humanistic psychology.

Maslow

A psychologist best known for creating Maslow's hierarchy of needs, a theory of psychological health predicated on fulfilling innate human needs in priority, culminating in self-actualization.