Which of the Following Is True for Inferior Goods

question 98

Multiple Choice

Which of the following is true for inferior goods?

• A)The law of demand does not hold
• B)They are of low quality
• C)The demand for them falls as consumer income rises
• D)All of the above
• E)None of the above

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Definitions:

Separate Court Systems

Jurisdictional distinctions within a country's judiciary, where different types of courts handle specific kinds of matters, such as federal versus state courts in the United States.

Supreme Law

The highest form of law in a legal jurisdiction, to which all other laws must conform; in many countries, this is the constitution.

U.S. Constitution

The supreme law of the United States that outlines the national framework of government, consisting of the preamble, seven original articles, and 27 amendments.

Civil Law Systems

Legal systems derived from Roman law, prevalent in Europe and Latin America, focusing on codified laws rather than judicial decisions.