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.
See also
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