Typical examples of inferior goods might be [...], [...] or [...]
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rice, potatoes, or less expensive cuts of meat.
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Open it Typical examples of inferior goods might be rice, potatoes, or less expensive cuts of meat.
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4.3. Income Elasticity of Demand: Normal and Inferior Goods ity are called inferior goods . Again, the word inferior means nothing other than that the income elasticity of demand for that good is observed to be negative. It does not necessarily indicate anything at all about the quality of that good. <span>Typical examples of inferior goods might be rice, potatoes, or less expensive cuts of meat. One study found that income elasticity of demand for beer is slightly negative, whereas income elasticity of demand for wine is significantly positive. An economist would therefore say
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