Question

What are inferior goods

Answer 1

Inferior goods are "A good for which demand decreases as income rises and demand increases as income falls." another definition is "An inferior good is an economic term that describes a good whose demand drops when people's incomes rise. This occurs when a good has more costly substitutes that see an increase in demand as incomes and the economy improve."

Step-by-step explanation:

Examples of Inferior goods are public transportation, As income rises the need for public transportation rather than private travel descends.

Answer 2

Answer: An inferior good is a good whose demand decreases when consumer income rises, unlike normal goods, for which the opposite is observed.

Explanation: Hope this helps!