2013 · Q29
29. The income elasticity of demand for inferior goods is :
General KnowledgeEconomics
- ALess than one
- BLess than zero
- CEqual to one
- DGreater than one
Explanation
Inferior goods have negative income elasticity; the official key marks B.
29. The income elasticity of demand for inferior goods is :
Explanation
Inferior goods have negative income elasticity; the official key marks B.