Foreıgn Trade Deneme Sınavı Sorusu #1376371
In which of the following conditions do potatoes and rice become inferior goods?
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When the demand for a certain commodity decreases while the income increases. |
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When the demand for a certain commodity increases while the income increases. |
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When the demand for a certain commodity decreases while the income decreases. |
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When the increase in the demand for a certain commodity is smaller than the increase in income. |
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When the increase in the demand for a certain commodity is greater than the increase in income. |
One of the ranges of income elasticity of demand, inferior goods refers to the circumstance when the demand for a certain commodity decreases while the income increases. Potatoes and rice can be taken as examples for inferior goods. The correct answer is A.
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