Tuesday, February 03, 2009

Unit 1: British holidays; are they inferior goods?

From A Question of Economics comes this article about rising demand for UK holidays in 2009

http://aquestionofeconomics.blogspot.com/2009/02/british-tourism-bucks-trend.html

a) Are self-catering holidays in the UK and the other holidays referred to in the article examples of inferior goods? Think about the income elasticity of demand for such holidays.

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