Inferior good
What Inferior good means in Economics B A-Level, as defined for Pearson Edexcel.
Definitions of Inferior good
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Reference: Pearson Edexcel
A good with a negative YED, where demand falls as income rises because consumers switch to higher-quality alternatives.
Identified by a negative YED sign, which indicates an inverse relationship between income and quantity demanded.
Topics that use Inferior good
- Income elasticity of demand (YED) (Pearson Edexcel A-Level)
Related terms
- Economic cycle
- Income elasticity of demand (YED)
- Percentage change
- Product portfolio management
- Luxury good
- Normal good
- Normal luxury good
- Strategic planning
Using Inferior good in the exam
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