Main menu For students For teachers Explore our subjects Student events & courses

Explore

More for students
Sign in

Teaching Economics

Blog

Inferior Goods

Geoff Riley

27th March 2008

Share this content:

Jim blogged today on his Business Studies blog about attempts by Pontins to revamp their Uk holiday camp business. Instinctively I thought that I could use this as an example of an inferior good - a product with a negative income elasticity of demand. What other examples do colleagues use for inferior goods in their teaching? Off the top of my head:

White own label bread Economy baked beans Tinned meat Bus transport Cigarettes

I am taking the aggregate view here - because income elasticity of demand will vary from person to person depending partially on our own individual preferences.

Anymore examples?

Share this content:

Geoff Riley

Geoff Riley FRSA has been teaching Economics for nearly forty years. He has over twenty years experience as Head of Economics at leading schools. He writes extensively and is a contributor and presenter on CPD and Revision conferences in the UK and overseas.

@tutor2uGeoff

You might also like

Ending Peruvian Poverty

8th October 2015

Global Goals are set to address poverty and underdevelopment

6th October 2015

Dissecting the Commodity Price Meltdown

5th October 2015

Uber faces UK regulatory review

2nd October 2015

How do you deal with someone who thinks the Earth is flat?

23rd September 2015

Don't panic - how to end poverty!

23rd September 2015

Teaching PowerPoints for A Level Economics

23rd September 2015

John McDonnell's Economics

16th September 2015