There are some products that are inferior goods for most people but not everyone. For example, instant Ramen noodle packages can provide a quick and inexpensive meal, but most US consumers shift to other convenience foods as their incomes rise. However, my daughter Katherine loves this product and views Ramen as a normal good, so individual tastes and economic responses can vary.
Are there any particular food products that you would consume in lower quantities as your income rises? Do you think most people would also view this good as inferior? Has your view of this inferior product changed over time?
Note:
1.References (this does not count toward the required paper length)
FINALLY, you must cite your sources after every sentence which contains information from one of your sources. Just putting a citation at the end of a paragraph or section is not sufficient.
Also, do not state “The author” or “the text”. Use proper APA style. This is Last Name of Author (Year).
2. I have attached the reference book for you reference.
3. provide at least 500 words document.
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