Deprecated: Return type of AdvancedAds\Abstracts\Data::offsetGet($offset) should either be compatible with ArrayAccess::offsetGet(mixed $offset): mixed, or the #[\ReturnTypeWillChange] attribute should be used to temporarily suppress the notice in /home/erudites/web/erudites.ng/public_html/wp-content/plugins/advanced-ads/includes/abstracts/abstract-data.php on line 431
If Less Of A Good Is Bought As One's Income Increases; Such A Good Is? - Erudites Academy

If less of a good is bought as one’s income increases; such a good is?

by | Apr 18 | Economics WAEC | 0 comments

A. a normal good
B. a luxury
C. a necessity
D. an inferior good

Correct Answer:

Option D – an inferior good

Explanation

An inferior good is one whose demand drops when people’s incomes rise.

Users Also Read These:

Copyright warnings! Do not copy.

Earn Your Degree In 3 Years Without Writing UTME. Click Here To Learn More.