Inferior good flashcard sets

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inferior good definitions
# Definition Sets
1a good for which, other things equal, an increase in income leads to a decrease in demand22 sets
2a good that consumers demand less of when their incomes increase19 sets
3a good whose demand curve shifts leftward when the incomes of buyers increase5 sets
4a good for which the demand falls as income rises and rises as income falls4 sets
5a good that consumers demand less of when their income increases4 sets
6when a rise in income decreases the demand for a good3 sets
7a good for which the demand increases as income falls and decreases as income rises3 sets
8a good for which the demand increases as income falls and decreases as income rises.2 sets
9goods whose demand varies inversely with money income2 sets
10a good whose demand curve shifts leftward when the incomes of buyers increase.2 sets
11good consumers buy less of when income increases2 sets
12a good that consumers demand less of when their incomes decrease2 sets
13a good the demand for which falls as income rises and rises as income falls2 sets
14a good that consumers demand less of when their income increaes2 sets
15a good that consumers demand less of when their incomes increase.2 sets
16good that consumers demand less of when their income increases1 set
17income elasticity < 0; less is demanded as income rises1 set
18a good or service whose consumption declines as income rises, prices held constant1 set
19good for which the demand falls as income rises and rises as income falls1 set
20a good for which, other things equal, an increase in income leads to a decrease in demand.1 set
21when income rises, demand falls. when income falls, demand rises.1 set
22a good for which quantity demanded decreases as income increases1 set
23good whose consumption decreases whn income increases.1 set
24a good for which the demand falls as income rises1 set
25a good demanded less when income increases1 set
26income falls, demand rises (bus)1 set
27a good or service for which demand decreases when consumers' incomes increase (and vice versa). eg. generic brands like pams. ey=negative.1 set
28if an increase in income results in a reduction in the demand for the good1 set
29a good for which an increase in income decreases demand.1 set
30[cheaper goods bought] if income falls, demand for rises1 set
31a good for which a rise in income decreases the demand for the good1 set
32a good for which other things equal, an increase in income leads to a decrease in demand1 set
33an increase in income leads to a decrease in demand ex. generic products, spam1 set
34income 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
35a good that consumers demand less or when their incomes increase1 set
36demand decreases as income increases1 set
37a good whose demand is negatively related to income (negative income elasticity of demand)1 set
38a income increases one buys less of this good1 set
39a good that consumers demand less of when their income increase.1 set
40a good or service whose consumption declines as income rises (and conversely), price remaining constant ex) an inner-city bus service1 set