Question : For an inferior good , demand falls when
Option 1: Price rises .
Option 2: Income rises.
Option 3: Price fall.
Option 4: Income fall.
New: SSC CHSL tier 1 answer key 2024 out | SSC CHSL 2024 Notification PDF
Recommended: How to crack SSC CHSL | SSC CHSL exam guide
Don't Miss: Month-wise Current Affairs | Upcoming government exams
Correct Answer: Income rises.
Solution : The correct option is income rises.
When consumer incomes rise, the demand for inferior goods tends to decrease, and conversely, when incomes fall, the demand for these goods tends to increase. This phenomenon occurs because as consumers experience an increase in income, they often opt for higher-quality or more desirable alternatives, reducing their demand for inferior goods.
Related Questions
Know More about
Staff Selection Commission Combined High ...
Result | Eligibility | Application | Admit Card | Answer Key | Preparation Tips | Cutoff
Get Updates Brochure
Your Staff Selection Commission Combined Higher Secondary Level Exam brochure has been successfully mailed to your registered email id “”.
