Products that are inferior goods for most people but not everyone

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?

Sample Solution

ACED ESSAYS