inferior good

Definition

A good the demand for which falls as income rises. The income elasticity of demand is therefore negative.

Use inferior good in a sentence

The inferior good earned that label or title during the last quarter where we saw incomes rise in the region.

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It was an inferior good and that was interesting to me, because in the past it had been much better and more valuable.

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Spam has always been considered an inferior good, only rising in popularity when the disposable income drops precipitously in a down economic climate.

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