Theory of consumer behaviour — Economics STD 12 Humanities & Commerce — Question
Rajasthan BoardEnglish MediumSTD 12 Humanities & CommerceEconomicsTheory of consumer behaviour2 Marks
Question
When is a good considered an inferior good?
✓
Answer
A good is considered an inferior good if with an increase in the income of the consumer, the demand for the good falls and as the income of the consumer decreases the demand for the good rises.
Need a full question paper?
Generate a complete, print-ready paper with questions like this in minutes — across 16+ boards, with answer keys.