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What is an Inferior Good?

 , November 08, 2015 updated on December 17, 2017
An inferior good is a product or service that you consume less when your income rises. A classic example is fast food. In many cases, sales of an inferior good can increase during a recession.
Overview: Inferior Good
DefinitionA good that is consumed less as income rises.
ExampleStaple foods such as potatoes or rice are an inferior good in many countries. As income rises, people tend to diversify their diet.
Related TechniquesSuperior Good
Giffen Good
Veblen Goods


This is the complete list of articles we have written about goods.
Brown Goods
Capital Goods
Club Goods
Common Goods
Common Resources
Consumer Durables
Consumer Goods
Consumer Staples
Digital Goods
Durable Goods
Economic Goods
Experience Goods
Final Goods
Goods & Services
Inferior Good
Intangible Goods
Luxury Goods
Merit Good
Public Goods
Search Good
Social Goods
Soft Goods
Substitute Good
Superior Goods
Unsought Goods
Veblen Goods
White Goods
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