3 ms·
I don't know about the rest, but the increased consumption of fake beer is a pretty classic example of an inferior good. The good that people resort to skimping
by kanja 14y ago
I don't know about the rest, but the increased consumption of fake beer is a pretty classic example of an inferior good. The good that people resort to skimping on would shift from country to country (measured by indifference curves), but it's expected that as income drops spending on inferior goods would rise.