If an increase in income induces a reduction in the demand for beans, beans can be referred to as? - SchoolNGR

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If an increase in income induces a reduction in the demand for beans, beans can be ...

If an increase in income induces a reduction in the demand for beans, beans can be referred to as?

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Take Free Practice Test On 2026 JAMB UTME, Post UTME, WAEC SSCE, GCE, NECO SSCE

A A normal good
B An inferior good
C A substitute good
D A giffen good

Correct Answer: Option B

Explanation:

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