An Inferior Good Is

question 145

Multiple Choice

An inferior good is:

• A)one whose demand curve will shift rightward as incomes rise.
• B)one whose price and quantity demanded varies directly.
• C)one which has not been approved by the federal Ministry of Agriculture.
• D)one whose demand curve will shift leftward as income rise.

Distinguish between different states of employment (e.g., full employment, depression, recession) and their representations on economic models.

Analyze the impact of historical events and societal changes on national economies and production capabilities.

Understand the role of resources and capital in the production process.

Appreciate the necessity of economizing due to scarcity.

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Definitions:

APA

American Psychological Association, a scientific organization that also provides guidelines for writing research papers and citing sources.

Research

Systematic investigation into and study of materials and sources to establish facts and reach new conclusions.

Researchers

Individuals who conduct systematic investigations to establish facts or reach new conclusions.