those goods whose quantity demanded increases as income goes up are called wealthy goods inferior goods rich people goods superior goods

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16-03-2015
History

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those goods whose quantity demanded increases as income goes up are called wealthy goods inferior goods rich people goods superior goods

Sagot :

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HistoryGuy HistoryGuy · Answer 1 · 2015-03-17T15:16:38-04:00

HistoryGuy HistoryGuy

17-03-2015

These goods are referred to as "superior goods." For a good to be superior, it must have a high price and be relatively scarce, so people only buy it when income rises.

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