Meaning of inferior good | Babel Free
Definitions
A good that decreases in demand when consumer income rises; having a negative income elasticity of demand.
Examples
“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.”
CEFR level
B2
Upper Intermediate
This word is part of the CEFR B2 vocabulary — upper intermediate level.
This word is part of the CEFR B2 vocabulary — upper intermediate level.