An Inferior Good Is One for Which

question 3

Multiple Choice

An inferior good is one for which:

• A) Quantity demanded will fall if price falls.
• B) Demand falls when income falls.
• C) Quantity demanded rises when price rises.
• D) Demand falls when income increases.

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Definitions:

Motivations

The underlying forces or reasons that drive individuals to engage in certain behaviors or pursue particular goals.

Needs

Internal states that drive action that is necessary to survive or thrive.

Primary Emotions

Fundamental emotions, such as joy, sadness, anger, and fear, that are universal and biologically based.

Pride

A feeling of self-respect and personal worth, often associated with achieving something significant.