A good, whose demand by a consumer falls with the rise in income of that consumer is called

The correct answer is: B. inferior goods

Inferior goods are goods whose demand decreases as income increases. This is because as people become wealthier, they tend to substitute inferior goods with more expensive, higher-quality goods. For example, as people earn more money, they may switch from eating ramen noodles to eating at restaurants.

Normal goods are goods whose demand increases as income increases. This is because as people become wealthier, they can afford to buy more of these

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