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Inferior Good

Published on Nov 19, 2015

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PRESENTATION OUTLINE

1.

INFERIOR GOODS

GROUP 1
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2.

Inferior goods -
A good that consumes demand less of when their income increases.

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3.

Inferior goods are goods that you would buy in smaller quantities or not at all

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4.

If your income were to rise then you could afford the buy something better.

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5.

EXAMPLES OF INFERIOR GOODS

  • Macaroni and cheese
  • Generic cerals
  • Used cars
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