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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
Why do people buy inferior goods at the first instance, even when their consumption is phased out as income rises?
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Answer

Because inferior goods are essentials of life.

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