Question

hat role, if any, do inferior goods (goods that you tend to buy when your income is lower, but you’d give up if you made more money – e.g. Kraft dinner, Mr. Noodles) play in sustainability

Answer 1

Inferior goods do play in sustainability , there is a form of inferior goods which are known as giffen goods, giffen goods are those goods are consired at staples , where these goods don't have any substitute , for eg. potatoes, rice , pulses and bread. the main and only difference it has from inferior good is that demand will increase of these products even when the product price rises , regardless of what the income of a consumer is. In this case the demand will not go down of these products, even if the person's income has risen.

Inferior Goods do depend upon the consumer behavior also because some consumers may not change their behaviour and will still tend to buy inferior product even when his income has risen.

Eg. Some people will still buy cheap coffee from mcdonalds and will not choose a expensive coffee from starbucks over it , because the consumer prefers Mcdonald's over Starbuck's.