An Inferior Good Is a Good

question 139

Multiple Choice

An inferior good is a good:

• A) that has low quality.
• B) that consumers purchase less of when their incomes are higher.
• C) that consumers purchase more when their incomes are higher.
• D) of high quality.

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Definitions:

Diversified Market

A market that includes a wide range of different products, services, or investment opportunities.

Multisided Market

A platform or marketplace that facilitates interactions between two or more distinct but interdependent groups of customers or participants.

Market Segment

A subdivision of a market into a distinct group of consumers or organizations sharing similar needs or characteristics.

Facebook

A social networking platform that allows users to connect, share content, communicate, and engage with communities online, owned by Meta Platforms, Inc.