Let's reshape it today. Corning Gorilla Glass TougherTogether. ET India Inc. ET Engage. ET Secure IT. Suggest a new Definition Proposed definitions will be considered for inclusion in the Economictimes. Indifference Curve An indifference curve is a graph showing combination of two goods that give the consumer equal satisfaction and utility.
InvITs can be treated as the modified version of REITs designed to suit the specific circumstances of the infrastructure sector. The objective of InvITs is to facilitate investment in the infrastructure sector.
InvITS are like mutual funds in structure. InvITs can be established as a trust and registered with Sebi. The trustee, who inspects the performance of an InvIT is certified by Sebi and he cannot be an associate of the sponsor or manager.
In these cases, the total value of the sponsor holding in the primary special purpose vehicle and in the InvIT should not be less than 25 per cent of the value of units of InvIT on post-issue basis.
Investment manager is an entity or limited liability partnership LLP or organisation that supervises assets and investments of the InvIT and guarantees activities of the InvIT. Project manager refers to the person who acts as the project manager and whose duty is to attain the execution of the project and in case of PPP projects.
It indicates that the entity is responsible for such execution and accomplishment of project landmark with respect to the agreement or other relevant project document. Related Definitions. The main business activity of this cookie is targeting and advertising. This cookie tracks the advertisement report which helps us to improve the marketing activity. Others Others. Other uncategorized cookies are those that are being analyzed and have not been classified into a category as yet.
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Used by Google DoubleClick and stores information about how the user uses the website and any other advertisement before visiting the website. The cookie is set by pubmatic. This cookie is set by pubmatic. Simply put, any product whose demand falls when peoples income rise is called an inferior good. This usually occurs when this product has a substitute which commands more price and gets more demand when peoples income increase and the economy of a nation increases.
Normal goods are the opposite of inferior goods. People less less of inferior goods when they have a larger amount of money. Most times, inferior goods are associated with people who have lower incomes in a nation, or persons who fall into the lower-class economy cycle. It is important that we dont confuse economic goods with non-quality goods, although some inferior goods are non-quality goods.
Inferior products mainly go side to side with negative income elasticity, while normal goods go side to side with positive income elasticity.
In economics, inferior goods experience a higher demand when the income level in the nation is low, and a lower demand when the income level is high. When the standard of living increases, people are more willing to spend more money on costly substitute to these products.
The reason for this shift or these actions are not far from a change in the customers socio-economic class, or a need for higher quality in some cases. In a case where the standard of living drops, people will rush back to purchasing inferior goods, thus making demand higher and price stable.
When this occurs, inferior goods become substitutes for costly products, however, the quality differences would be clear to the average consumer. There are different inferior goods which we keep and purchase daily. A typical example would be frozen foods. Others might include instant noodles, canned goods, hamburgers, and in some cases, fast food.
From: inferior good in A Dictionary of Economics ». Subjects: Social sciences — Economics. View all related items in Oxford Reference ». Search for: 'inferior good' in Oxford Reference ». All Rights Reserved. Under the terms of the licence agreement, an individual user may print out a PDF of a single entry from a reference work in OR for personal use for details see Privacy Policy and Legal Notice. Oxford Reference.
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