Question
As a result of an increase in consumer incomes, the
demand for XYZ good has decreased. Based on this information, what can we definitely say about what type of good XYZ is?Solution
Inferior goods are goods whose demand is reduced with increasing consumer income. Inferior goods are very low-priced goods and are of much lower quality related to other goods. Income growth allows the consumer to change their choices and buy substitutes of superior quality.
How I related to F?
If O is the sister-in-law of T, then which of the following expression is true?
Answer the questions based on the information given below.
Eight persons L, M, N, O, P, Q, R, and S belong to a family of three generations. No...
Ben’s mother is the daughter of Finn. Carl is the son of Finn and Denis. George is the son of Carl and Emily. Denis the mother of Ray. How is Finn rel...
. How is V related to U?
Answer the questions based on the information given below.
A family consists of ten members D, E, F, H, I, J, M, N, K and L. No single person i...
How is M related to the aunt of R?
How is G related to H?
How is U related to R?
Which of the following expression represents the relationship ‘A is daughter-in-law of J’?