Saturday, October 25, 2008

Unit 1: Poundland: An inferior good?

This article from the BBC highlights the growth of pounland and other £1 shops

http://news.bbc.co.uk/1/hi/business/7680302.stm

a) Discuss the extent to which these shops might be classed as inferior goods
b) If they are inferior goods, what could you say about the income elasticity of demand figure?

No comments: