Deprecated function: Optional parameter $path declared before required parameter $arg is implicitly treated as a required parameter in include_once() (line 1439 of /var/www/quickstart.cals.arizona.edu/includes/bootstrap.inc).

Inferior Good

A good whose demand decreases when consumer income rises, unlike normal goods, for which the opposite is observed.

What are inferior goods?

An inferior good is a good or service where your demand goes down when your income goes up, and vice versa.

A Deeper Look at the Demand Curve

This video looks at both the horizontal and vertical methods for reading the demand curve, how demand curves shift, and consumer surplus.

The Demand Curve Shifts

How do increases or decreases in demand affect the demand curve? An increase in demand means an increase in the quantity demanded at every price.
Subscribe to Inferior Good