Which of the following is most likely an inferior good?
A)an antique car
B)gasoline
C)a bus ticket
D)an airline ticket

Question

Quizplus · Accepted Answer

A bus ticket is most likely an inferior good because as a person's income increases, they are more likely to switch to a more expensive mode of transportation such as driving their own car or taking a plane. An antique car is a luxury good and its demand would increase as income increases. Gasoline and an airline ticket are both normal goods, where demand would increase as income increases.

Which of the Following Is Most Likely an Inferior Good