Quizlet
or
There are no sets in this subject.
No groups found.
| inferior good definitions | |||
|---|---|---|---|
| # | Definition | Sets | |
| 1 | a good for which, other things equal, an increase in income leads to a decrease in demand | 19 sets | |
| 2 | a good that consumers demand less of when their incomes increase | 18 sets | |
| 3 | a good whose demand curve shifts leftward when the incomes of buyers increase | 4 sets | |
| 4 | a good for which the demand increases as income falls and decreases as income rises | 3 sets | |
| 5 | a good that consumers demand less of when their income increases | 3 sets | |
| 6 | when a rise in income decreases the demand for a good | 3 sets | |
| 7 | a good that consumers demand less of when their incomes increase. | 2 sets | |
| 8 | goods whose demand varies inversely with money income | 2 sets | |
| 9 | a good for which the demand falls as income rises and rises as income falls | 2 sets | |
| 10 | good consumers buy less of when income increases | 2 sets | |
| 11 | a good that consumers demand less of when their incomes decrease | 2 sets | |
| 12 | a good for which the demand increases as income falls and decreases as income rises. | 2 sets | |
| 13 | a good the demand for which falls as income rises and rises as income falls | 2 sets | |
| 14 | a good whose demand curve shifts leftward when the incomes of buyers increase. | 2 sets | |
| 15 | a good that consumers demand less of when their income increaes | 2 sets | |
| 16 | a good for which a rise in income decreases the demand for the good | 1 set | |
| 17 | a good for which an increase in income decreases demand. | 1 set | |
| 18 | a good for which other things equal, an increase in income leads to a decrease in demand | 1 set | |
| 19 | a good for which quantity demanded decreases as income increases | 1 set | |
| 20 | good whose consumption decreases whn income increases. | 1 set | |
| 21 | a good for which the demand falls as income rises | 1 set | |
| 22 | [cheaper goods bought] if income falls, demand for rises | 1 set | |
| 23 | a good for which consumption increases as income falls (negative result for income elasticity of demand) | 1 set | |
| 24 | income falls, demand rises (bus) | 1 set | |
| 25 | good that consumers demand less of when their income increases | 1 set | |
| 26 | a good demanded less when income increases | 1 set | |
| 27 | a good or service for which demand decreases when consumers' incomes increase (and vice versa). eg. generic brands like pams. ey=negative. | 1 set | |
| 28 | products whose demands vary inversely with income | 1 set | |
| 29 | when income rises you buy less of it (canned good,top ramen) | 1 set | |
| 30 | if an increase in income results in a reduction in the demand for the good | 1 set | |
| 31 | good for which the demand falls as income rises and rises as income falls | 1 set | |
| 32 | a good which demand demand decreases and when income increases and demand increases when income decreases | 1 set | |
| 33 | good for which the demand decreases when inome increases | 1 set | |
| 34 | income elasticity<0, substitution and income effects go in the opposite direction | 1 set | |
| 35 | when income rises, demand for inferior good decreases (used clothing, ramen) | 1 set | |
| 36 | quantity demanded decreases as income increases | 1 set | |
| 37 | a good whose demand is negatively related to income (negative income elasticity of demand) | 1 set | |
| 38 | income decreases/increases; and demand goes opposite of that (money increases or decreases so, your demand for things will higher or lower depending on the income, becuase it always has to be opposite of it) | 1 set | |
| 39 | a good that consumers demand less or when their incomes increase | 1 set | |
| 40 | demand decreases as income increases | 1 set | |