What Is Low Quality Goods?

In economics , low quality goods or inferior goods are goods whose demand decreases when consumer income rises (or demand increases when consumer income decreases), unlike normal goods, which are observed otherwise. Normal goods are goods whose demand increases when consumer income rises. This will be the opposite of superior goods, goods often associated with wealth and the rich, while low quality goods are often associated with lower socioeconomic groups.

Examples of Low Quality Goods

There are many examples of low quality items that can be found everyday. Low-quality goods that are often encountered may be items that are often used daily including instant noodles, fast food, and frozen foods. When people have lower incomes , they tend to buy these kinds of products. But when their income rises, they more often choose to buy more expensive items.

 

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