Those goods whose quantity demanded increases as income goes up are called wealthy goods inferior goods rich people goods superior goods

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Ramiro Cohen

9 April, 07:41

Those goods whose quantity demanded increases as income goes up are called wealthy goods inferior goods rich people goods superior goods

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Andre · Answer 1

These goods are referred to as "superior goods." For a good to be superior, it must have a high price and be relatively scarce, so people only buy it when income rises.