JAMB - Economics (1978 - No. 5)
Inferior goods are referred to in Economics as goods
Whose quality is low
Consumed by very poor people
Whose consumption falls when cunsumers' income rises
Which satisfy only the basic needs
None of the above
Paaiškinimas
In economics, an inferior good is a good whose demand decreases when consumer income rises (or demand increases when consumer income decreases)