frank recently lost his job as a photo lab technician. while he searches for a new occupation, his spaghetti purchases increases. for frank, spaghetti is

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02-09-2022
Social Studies

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frank recently lost his job as a photo lab technician. while he searches for a new occupation, his spaghetti purchases increases. for frank, spaghetti is

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RajarshiG RajarshiG · Answer 1 · 2022-09-09T04:48:00-04:00

Frank recently lost his job as a photo lab technician. while he searches for a new occupation, his spaghetti purchases increases. for Frank, spaghetti is inferior good.

A sort of good whose demand decreases as income increases is known as an inferior good. In other words, consumer income and the demand for subpar goods are inversely related. For instance, customers are consuming both jowar flour and wheat flour, two commodities that are present in the economy. Both commodities currently have a downward-sloping graph, meaning that demand will decrease as price increases and vice versa. If a consumer's income increases, he will be more likely to choose wheat flour, which is slightly more expensive than jowar flour.

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