want that is not expressed by demand.
normal substitute good.
good for which demand decreases when its price rises.
good for which demand decreases when income increases.
If a good is an inferior good, then purchases of that good will decrease when
A) income increases.
the price of a substitute rises.
C) population increases.
the demand for it increases.
An inferior good is a good for which demand
Gruel is an inferior good. Hence, a decrease in people’s incomes
When economists speak of preferences as influencing demand, they are referring to
An unusually warm winter
shifts the supply curve of gloves rightward.