A Good Is Inferior for a Consumer If

question 77

Multiple Choice

A good is inferior for a consumer if

• A) it is never included in his or her consumption bundle.
• B) its consumption rises when income rises.
• C) its consumption falls when income rises.
• D) some minimal level of the good must be consumed to assure the consumer's survival.

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Definitions:

Rightness

The quality of being morally correct, justifiable, or acceptable according to ethical principles.

Principle of Effort

The notion that the outcome of one's endeavors is directly related to the amount of effort put in.

Social "Goods"

Benefits or positive outcomes that contribute to the well-being of a society or community, including both tangible resources and intangible elements like justice and safety.