If consumers buy less of a commodity when their incomes rise, this commodity is.

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Business

Rowdy

26 July, 00:36

If consumers buy less of a commodity when their incomes rise, this commodity is.

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Kaitlynn Sanders · Answer 1

The commodity is an inferior good.

An inferior good is one for which the quantity demanded decreases when the income of the consumer increases, or one for which the quantity demanded increases when the income of the consumer decreases. In contrast, a normal good is one for which the demand increases when the consumer's income increases.