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WAEC Economics 2020 Question 9

Question 9

Theory of Demand

Goods are described as inferior if their demand

  1. A.decreases as price falls.
  2. B.increases as income rises.
  3. C.decreases as income increases.
  4. D.increases as price increases.
Show the answer and explanation

Answer: C (decreases as income increases.)

Explanation

Demand for inferior goods falls when income rises.