Sunday, September 19, 2010
Good Example Of An Inferior Good
The recession has breathed life into one market recently, used cars. Brokers are paying unimaginable prices for used cars as the demand grows in the face of a shrinking supply. Inferior goods are items that you tend to buy more of when your income declines. People are hanging on to their cars longer instead of trading in and up for new ones. Consequently, the traditional replenishment of the used car market is drying up. Click on the title above to get some of the details.
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