Goods are described as inferior if their demand
...Goods are described as inferior if their demand
Decreases as price falls
Increases as income rises
Decreases as income increases
Increases as price increases
Correct answer is C
In economics, an inferior good is a good whose demand drops when people's incomes rise.
Insurance companies, pension and provident funds and unit trusts are all examples of ...
The total stock of money available for use in an economy is ...
The gains from international trade are shared on the basis of the ...
One of the probable effects of an increased minimum wage in Nigeria is? ...
The demand curve facing the monopolist in the foreign market is_________ ...
The ownership of a public limited liability company is made up of ...
The labour force of a country is determined by the___________ ...