2 ms·
> [..] this is probably something which is actually easier to sell to comparatively rich countries rather than comparatively non-rich countries. If you compare
by atmosx 12y ago
> [..] this is probably something which is actually easier to sell to comparatively rich countries rather than comparatively non-rich countries.
If you compare Switzerland (rich country) to Ethiopia (poor country) that's true for anything I can think of.
- rahimnathwani 12y agoThe economics term 'inferior good' refers to one which has negative income elasticity of demand, i.e. a good for which an individual's demand falls as their income rises. Of course, which goods are inferior will vary depending on where you are on the scale. Someone may consume more margarine as they become more affluent, but at some point they may switch to butter or an olive-based spread. At this point in the scale, margarine has a negative income elasticity of demand.