Inferior good


Gender pay gap

80% of UK companies and public sectors organisations pay women less than men.

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Inferior good - definition

An inferior good is a good that people demand less of when their income rises (or more of when their income falls). Inferior goods have a negative income elasticity of demand.

Inferior goods can be contrasted with 'normal' goods which have a positive income elasticity of demand.

Inferior and normal goods can be illustrated by 'Engel curves', after 19th century German statistician, Ernst Engel.

Inferior goods

WTO rules

What exactly is the 'most favoured nation' rule?

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Model agencies collude to fix rates

Regulators find leading model agencies guilty of price fixing.

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Customs unions

Costs and benefits of customs unions.

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New materials

Multiple choice papers for Paper Three.

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Savings ratio

Savings ratio falls to lowest level on record.

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