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those goods whose quantity demanded increases as income goes up are called wealthy goods inferior goods rich people goods superior goods
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Oct 12, 2016
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those goods whose quantity demanded increases as income goes up are called wealthy goods inferior goods rich people goods superior goods
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Piaste
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These goods are referred to as "superior goods." For a good to be superior, it must have a high price and be relatively scarce, so people only buy it when income rises.
Karan Harsh Wardhan
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Oct 18, 2016
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Karan Harsh Wardhan
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