A Product Can Be Classified to Be an Inferior Good

question 5

Multiple Choice

A product can be classified to be an inferior good if an increase in the income of buyers causes

• A)A decrease in quantity demanded
• B)A decrease in demand
• C)An increase in demand
• D)An increase in quantity demanded.

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Definitions:

Venture Capital

Financing provided by investors to startup companies and small businesses with perceived long-term growth potential.

Financing Option

Various methods or strategies available to businesses or individuals to fund projects, purchases, or investments.

Legal Entity

An organization that has legal rights and obligations, including the ability to enter into contracts and sue or be sued.

Legal Rights

Legal rights are entitlements or permissions granted to individuals by law, protecting them and allowing certain actions or claims.