What Is a Distinguishing Characteristic of an Inferior Good

question 104

Multiple Choice

What is a distinguishing characteristic of an inferior good?

• A)a negative price effect
• B)a positive income effect
• C)a positive substitution effect
• D)a negative income effect
• E)an upward-sloping demand curve

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Definitions:

Aristotle

An ancient Greek philosopher and scientist, whose works cover a wide range of subjects and form the basis of Western philosophy.

Aristotle

An ancient Greek philosopher and scientist, one of the greatest intellectual figures of Western history, who made significant contributions to various fields of knowledge.

Plato

An ancient Athenian philosopher, a student of Socrates and teacher of Aristotle, known for his contributions to Western philosophy.

Forms

In Platonic philosophy, refers to the abstract, perfect, non-physical essences of things or concepts that represent their most accurate reality.