inferior good
inferior good · inferior goods
A good that decreases in demand when consumer income risesA good that decreases in demand when consumer income rises; having a negative income elasticity of demand.
Meaning
1 sensesA 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
plural: inferior goods| Singular | inferior good |
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| Plural | inferior goods |
regular
Antonyms
1 antonymsSee also
neighbours in the dictionaryDictionary text adapted from Wiktionary (Wiktionary contributors, CC BY-SA 4.0) and Open English WordNet / Princeton WordNet (CC BY 4.0, WordNet License); shared under CC BY-SA 4.0. Example sentences and recordings are credited where they appear.