Inferior good
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This is an old revision of this page, as edited by SJames (Talk | contribs) at 13:12, December 15, 2008. It may differ significantly from current revision.
An inferior good is something that people demand less of when their income increases. An example of an inferior good would be White Castle for their cheap hamburgers. As one's income increases, he can afford McDonalds!
Inferior goods are therefore said to have a negative income elasticity of demand.
