An Inferior Good Is One for Which

question 101

Multiple Choice

An inferior good is one for which

• A) demand increases as income increases.
• B) demand decreases as income increases.
• C) the demand curve is vertical.
• D) the demand curve slopes up.

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Definitions:

Task Times

The duration required to complete a specific task or activity within a process or project.

Stations Needed

The total number of workstations or production stations required to complete a job or to fulfill a specific part of a manufacturing process efficiently.

Cycle Time

The total time from the beginning to the end of a process, as measured by the customer.