Examlex
Which of the following was Philip the Bold of Burgundy's grandest artistic enterprise?
Inferior Good
An inferior good is a type of good whose demand decreases when consumer income rises, in contrast to normal goods, whose demand increases with rising incomes.
Shoes
Footwear items designed to protect and comfort the human foot while offering various styles and functions.
Income Elasticity
Measures how the quantity demanded of a good changes in response to a change in consumers' income.
Normal Good
A type of good for which demand increases as the income of consumers increases, and decreases when consumer income decreases.
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