Business, 04.09.2019 19:30 expresslmnop

Refer to exhibit 3-6. if a decrease in income causes the demand for good x to shift from d1 to d2, then good x is
(a) a normal good.
(b) a neutral good.
(c) a complementary good.
(d) an inferior good.
(e) a substitute good.

Answers: 3

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Answer from: mizu36011

(D) an inferior good.

Explanation:

The inferior good had a negative relationship between income and demand.

When the income is lower, the demand increases as people moves away from normal goods to inferior as they are cheaper. And it will decrease once the income level return to his previous level.

This causes even more troubles in recessions to normal company's as the demand decrease and also, it shift to other goods.

Answer from: haileywebb8

An inferior good

Explanation:

First of all, It is important to understand the behavior of the demand curve, if the demand for a good X causes the demand curve to shift from D1 to D2, this means there is an increase in demand.

If a good increases in demand when there is decrease in income, the good is an inferior good because this is a good that is demanded when buyers have to spend cautiously, this means inferior goods are the opposite of normal goods and buyers would normally not demand such items. Such goods could be inferior either in terms of quality, method of production, manufacturers, e.t.c.

Answer from: Quest

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Answer from: Quest

whole quiz

1. the sum of all activities involved in getting high-quality products into the marketplace

2.operations

3. the principle of looking at the supply chain as a whole in order to improve the overall flow through the system.

4. produced; performed

5. activities producing tangible products, such as radios, newspapers, buses, and textbooks.

6. activities producing intangible and tangible products, such as entertainment, transportation, and education.

7. customer focus

8. analyzing a competitor's products to identify desirable improvements

9. the systematic direction and control of the processes that transform resources into finished projects that create value for and provide benefits to consumers.

10. operation management.

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Refer to exhibit 3-6. if a decrease in income causes the demand for good x to shift from d1 to d2, t...

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