Asked by
Jarlyn Alvarez
on Dec 17, 2024
Verified
Currently you purchase ten frozen pizza per month. You will graduate from college in December, and you will start a new job in January. You have no plans to purchase frozen pizzas in January. For you, frozen pizzas are
A) a substitute good.
B) a normal good.
C) an inferior good.
D) a complementary good.
Inferior Good
A type of good for which demand decreases as the income of the consumers increases, opposed to a normal good where demand increases with rising income.
Frozen Pizzas
Pre-made pizzas that are sold frozen to consumers, who then bake or heat them at home. They are a convenient, quick meal option that varies in quality and ingredients.
- Comprehend the meanings and attributes of inferior goods, normal goods, substitute goods, and complementary goods.
- Comprehend the impact of income variations on the demand for various goods.
Verified Answer
MA
Learning Objectives
- Comprehend the meanings and attributes of inferior goods, normal goods, substitute goods, and complementary goods.
- Comprehend the impact of income variations on the demand for various goods.