inferior good


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inferior good

Any good that is consumed less as average incomes in an economy rise.
Dictionary of Unfamiliar Words by Diagram Group Copyright © 2008 by Diagram Visual Information Limited
References in periodicals archive ?
The study conducted by Chyi and Yang (2009) from the inferior good perspective is such an example.
We need not look beyond a mirror to see who can choose to purchase goods made in this country by our neighbors and refuse to purchase an inferior good made overseas.
After an introduction to gender issues, she covers the patriarchal approach to women's education; economic approaches to women's education; externalities from investment in women's education; the patriarchal system and women's health, education, and work participation; the human capital approach to women's health and nutrition; approaches to women's mobility; discrimination against women in the labor market; access to resources by men and women; whether a girl child is an inferior good; and policy prescriptions.
Speaking to Gulf News, expert economist Professor Cedwin Fernandes said rice is considered an inferior good from an income elasticity perspective, with studies suggesting that as incomes increase, rice consumption falls as people can now afford to switch to high-value products such as meat, dairy products, fruits, and vegetables.
Indeed, only consumption of whole milk powder (considered an inferior good in the country) is forecast to grow by less than 1% over our forecast period.
It means that when real gross domestic product increase and health care expenditure decrease because at that time health care is an inferior good. Meanwhile, referring to equation there is a significant positive relationship between health care expenditure and national saving.
For this reason, this paper refers to high-margin students as "inferior goods" to the university, as the effect of additional funding on the university's enrollment of these students is analogous to the effect of additional income on the quantity an individual consumes of an inferior good.
Buying a Precious Good at the Price of an Inferior Good
Market work time is an inferior good for both husbands and wives, meaning market work time decreases when non-labor income rises.
"inferior good" with the economic concept of a "good" vs.
And a world populated with superior and inferior good beings is better than a world containing the superior beings alone.

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