inferior good

noun

Definition of inferior good

: a commodity the consumption of which decreases as its price declines or as the income of consumers rises because of the increased income available to buy preferred though more expensive commodities

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“Inferior good.” Merriam-Webster.com Dictionary, Merriam-Webster, https://www.merriam-webster.com/dictionary/inferior%20good. Accessed 18 Sep. 2020.

More from Merriam-Webster on inferior good

Nglish: Translation of inferior good for Spanish Speakers

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