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MICROECONOMICS CH : 5 THEORY OF DEMAND — Economics STD 11 Commerce — Question

CBSE BoardEnglish MediumSTD 11 CommerceEconomicsMICROECONOMICS CH : 5 THEORY OF DEMAND1 Mark
Question
Define inferior goods.
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Answer

Inferior goods are those goods in case of which there is a negative relationship between consumer's income and quantity demanded. Implying that income effect is negative.

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