Saturday, November 01, 2008

Unit 1: Inferior goods in the UK economy

Tutor2u pointed out this article

http://edinburghnews.scotsman.com/features/Meet-the-credit-crunch-winners.4631545.jp

a) Define an inferior good including the term "income elasticity of demand"
b) To what extent do you believe the goods/services mentioned in the article are inferior goods?

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