If the demand of a good is inversely related to income, it must be
A) a bad good.
B) an inferior good.
C) a normal good.
D) an everyday product.
Question 2
The assumption that individuals do NOT intentionally make decisions that would leave them worse off is referred to as
A) the premium assumption.
B) the law of comparative advantage.
C) the rationality assumption.
D) the law of demand.