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inferior good

noun

Definitions

  1. A good that decreases in demand when consumer income rises

    A good that decreases in demand when consumer income rises; having a negative income elasticity of demand.

    • 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.

The neighborhood

Vish — recursive loop

No curated loop yet for inferior good. Loops are being traced one word at a time while the ingestion pipeline matures.

sense glosses and etymology drawn from English Wiktionary · source · CC-BY-SA