Asked by
Karla Perez
on Nov 11, 2024
Verified
Which of the following is most likely to be an inferior good?
A) Airline travel
B) Restaurant meals
C) A subscription to the Wall Street Journal
D) Soft drinks
E) Used clothing
Inferior Good
A type of good for which demand decreases as the income of consumers increases, opposite to normal goods.
Airline Travel
The process of transporting passengers and cargo by aircraft from one location to another.
- Identify the differences between conventional goods and inferior goods in relation to their sensitivity to income variations.
Verified Answer
LG
Learning Objectives
- Identify the differences between conventional goods and inferior goods in relation to their sensitivity to income variations.