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:

Kohlberg's Model

A theory outlining six stages of moral development, progressing from obedience and punishment orientation to principled conscience.

Formal Reward System

An institutionalized and structured program within an organization designed to recognize and reward employee performance.

Ethical Leadership

A style of leadership that involves leading others in a manner that respects ethical principles and values.

Spiritual Leadership Theory

A leadership model that emphasizes the importance of values, beliefs, and a sense of purpose in motivating followers.