Everand Logo

Welcome to Everand!

  • Discover millions of ebooks, audiobooks, and so much more with a free trial

    Only $11.99/month after trial. Cancel anytime.

    Inferior Good: Decoding the Economics of Everyday Choices
    Inferior Good: Decoding the Economics of Everyday Choices
    Inferior Good: Decoding the Economics of Everyday Choices
    Ebook245 pages2 hours

    Inferior Good: Decoding the Economics of Everyday Choices

    By Fouad Sabry

    ()

    Read preview

    About this ebook

    What is Inferior Good


    In economics, an inferior good is a good whose demand decreases when consumer income rises, unlike normal goods, for which the opposite is observed. Inferiority, in this sense, is an observable fact relating to affordability rather than a statement about the quality of the good. There are many examples of inferior goods, including cheap cars, public transit options, payday lending, and inexpensive food. The shift in consumer demand for an inferior good can be explained by two natural economic phenomena: the substitution effect and the income effect.


    How you will benefit


    (I) Insights, and validations about the following topics:


    Chapter 1: Inferior good


    Chapter 2: Supply and demand


    Chapter 3: Elasticity (economics)


    Chapter 4: Price elasticity of demand


    Chapter 5: Consumer choice


    Chapter 6: Giffen good


    Chapter 7: Normal good


    Chapter 8: Veblen good


    Chapter 9: Substitute good


    Chapter 10: Income-consumption curve


    Chapter 11: Substitution effect


    Chapter 12: Law of demand


    Chapter 13: Complementary good


    Chapter 14: Luxury goods


    Chapter 15: Neutral good


    Chapter 16: Demand curve


    Chapter 17: Utility maximization problem


    Chapter 18: Slutsky equation


    Chapter 19: Wealth effect


    Chapter 20: Hicksian demand function


    Chapter 21: Demand


    (II) Answering the public top questions about inferior good.


    (III) Real world examples for the usage of inferior good in many fields.


    Who this book is for


    Professionals, undergraduate and graduate students, enthusiasts, hobbyists, and those who want to go beyond basic knowledge or information for any kind of Inferior Good.

    LanguageEnglish
    PublisherOne Billion Knowledgeable
    Release dateFeb 2, 2024
    Inferior Good: Decoding the Economics of Everyday Choices

    Related to Inferior Good

    Titles in the series (100)

    View More
    View More

    Related ebooks

    Economics For You

    View More
    View More

    Related podcast episodes

    Related articles

    • Article

      The Value – And Power – Of Money In A Changing World

      Feb 14, 2020

      what is money? Is it a means of transacting, a store of value, or a measure of value? Is it coins and notes, bank cards, investments or gold? Money is all of this, connected into a complex financial system consisting of government treasuries, central

      3 min read

    • Article

      WHERE CAN YOUR Sense of Wonder Lead You?

      Jul 20, 2018

      In today’s business environment, what remains unchanged is that flicker of curiosity which fuels people’s imagination. And from that imagination, we see impressive results; we see leaders from bootstrapped startups to behemoth tech giants improve the

      2 min read

    • Article

      For What It’s Worth

      Nov 23, 2023

      For What It’s Worth
      7 min read

    • Article

      How Stories Influence Investment Questions

      Aug 6, 2021

      humans are meaning-making creatures. We see patterns where there are none; create inferences where there are only associations and distil intent where there is only coincidence. Making meaning is why we have both religion and science: two different f

      3 min read

    • Article

      How To Advise For A Lifetime

      Feb 14, 2020

      i remember my first encounter with money. It was not a good one. I was five years old and my mom had given me a shiny new half cent coin. This was the first time I had held money that was mine. Two minutes later I was walking up the road to buy my fa

      3 min read

    • Article

      The Purpose of Capital

      May 16, 2018

      The Purpose of Capital
      5 min read

    • Article

      Financial Wellbeing

      Jun 30, 2021

      Financial Wellbeing
      2 min read

    • Article

      Have Money, Won’t Travel: Why do investors prefer to put their money to work at home?

      Dec 19, 2013

      The category of “specialist” seems to be ingrained deeply both in the history of evolution, and the development of modern society. Homo sapiens is, in its own ways, a specialist: We are most remarkable for our large brains and the application of our

      4 min read

    • Article

      Letter Of The Month

      Sep 20, 2021

      This article (“The Great Divide”, by Rebecca Macfie, September 2021) is a truly stunning piece of research, reporting and writing. Rebecca has encapsulated the whole issue, not just the whinges of certain factions about what they cannot get, or greed

      4 min read

    • Article

      Investing As A Zillennial: Unleashing The Financial Power Of A Tech-Savvy Generation

      Sep 29, 2023

      I overheard this statement once and I think it’s one of the strangest myths around Zillennials (apart from us needing coffee to cope) – the myth is that we think we’re too young to be investing. Now, if that sounds very familiar and it resonates with

      2 min read

    • Article

      Kate Raworth

      Dec 18, 2019

      Kate Raworth
      7 min read

    • Article

      Welcome

      Sep 1, 2023

      I'll be honest: when the subject of sustainability arises – as it often does nowadays – I struggle mentally to formulate and express my feelings clearly about this hugely important topic. The climate crisis is – to my mind at least – irrefutably real

      2 min read

    • Article

      How To See The World And Make It A Better Place

      Aug 29, 2022

      Sustainable travel is not one genre of travel, nor is it a set of criteria; it is a mindset that can be applied to every trip. Whether raving all night in Berlin or trekking in the Himalayas, there are ways to increase the positive impact we’re havin

      7 min read

    • Article

      Investment For Beginners

      Feb 27, 2022

      Investment For Beginners
      3 min read

    • Article

      The Morality Of Altruism

      Jan 25, 2024

      IF YOU GIVE AWAY MONEY, WHY DO YOU DO it? Why those specific causes, and those specific charities? The premise of “effective altruism”, a decade-old trend promoted by neo-utilitarian philosophers and seized on by graduates in tech and finance, is tha

      5 min read

    • Article

      These 2 Emotional Biases Could Kill Your Retirement

      Sep 20, 2021

      If investing and saving for retirement were based solely on objective mathematics, a very healthy nest egg could be a forgone conclusion for many of us. Realistically, however, investors are human beings, with wants, feelings, conflicting priorities

      2 min read

    • Article

      Behavioural Insights

      May 1, 2020

      Behavioural Insights
      2 min read

    • Article

      It’s A Rich Woman’s World

      Apr 8, 2018

      In ABBA’s ‘Money, Money, Money’, a woman doesn’t have many favourable options. She can either work all day to pay the bills or nab herself a wealthy man “and have a ball”. Even in the 70s, clever women were seen as the inheritors to men’s wealth eith

      4 min read

    • Article

      Plan Your Permaculture Plot

      May 14, 2021

      Plan Your Permaculture Plot
      6 min read

    Related categories

    Reviews for Inferior Good

    0 ratings

    0 ratings0 reviews

    What did you think?

    Tap to rate

    Review must be at least 10 words

      Book preview

      Inferior Good - Fouad Sabry

      Enjoying the preview?
      Page 1 of 1