Economics A-Level
Inferior good
What Inferior good means in Economics A-Level, as defined for AQA.
Definition of Inferior good
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Reference: AQA
A good with a negative income elasticity of demand, meaning demand falls as income rises.
Topics that use Inferior good
- Price, income and cross elasticities of demand (AQA A-Level)
Related terms
- Cross Elasticity of Demand (XED)
- Income Elasticity of Demand (YED)
- Price Elasticity of Demand (PED)
- Revenue maximisation
- Business decision-making
- Complementary goods
- Consumer expenditure
- Cross elasticity of demand
Using Inferior good in the exam
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