Soon into a recession, when the media is filled with bad news, the good-news people have their say. Lots of things get popular in a recession is the message. Cheer up! In bad times inferior goods do ...

Are sports franchises in your city an inferior good?Experience lately would suggest so. Wealthy areas like San Francisco and Seattle have denied public funding for franchises. San Francisco paid ...

Consumer goods or services for which demand falls when individuals have a higher level of income and can afford higher priced alternatives. This does not, however, indicate a substandard product but ...