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inferior good
(redirected from Inferior goods)

    Also found in: Wikipedia 0.03 sec.

inferior good

Good which falls in demand as the income of consumers rises. This means that it has a negative income elasticity of demand. A good is most likely to be inferior if has a near substitute of higher quality.



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It should be pointed out, though, that Solakov's "Leftovers" are not just inferior goods.
Nedko Solakov: Kunsthaus Zurich by Reust, Hans Rudolf / Artforum International
How often have you seen a low bid rejected as opposed to receiving award and the government spends the next two years trying to work with the firm to get them to perform or even accepts inferior goods out of pride.
MILLER ON PROCUREMENT by Miller, Terry / EDP Weekly's IT Monitor
Targeting the over-40s clearly presents many opportunities for marketers but it is important to be aware that they are astute consumers, who are unlikely to be fobbed off with inferior goods and services.
Research and Markets: Targeting the Over-40s Presents Many ... by Business Wire
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