Supply and Demand

a.) According to demand theory, name an inferior good or service you are using now or have used in the past.

b. Name a normal service you use and explain why it is a normal service.

c.) Name an inferior good or service you have previously consumed that you think your consumption of which would not change with changes in your income. Please makes sure when you answer this part that you name an inferior good or service that is generally considered by most people to be an inferior good or service. Briefly explain why you think it would not change.

d.) What do you expect would happen to your consumption of that inferior good or service when your income changed in both directions (an increase in income and a decrease in income)?

Reference:

https://youtu.be/uVpv-Pg_hcI

https://youtu.be/ShzPtU7IOXs

https://youtu.be/3xCzhdVtdMI

https://youtu.be/kl4n-EWwPyA

https://youtu.be/wYuAwm-5-Bk

https://youtu.be/UQVwgC7MAHM