inferior good en · NOUN
Meanings
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A good that decreases in demand when consumer income rises; having a negative income elasticity of demand.
Cheap, low-quality goods (such as canned food) are inferior goods for many people. The more money they have, the less they purchase those goods.
Forms
| Spelling | Features | Labels | Source |
|---|---|---|---|
| inferior goods | Number=Plur | lexicographic |