A good whose quantity demanded is indirectly related to consumer's income is ____________
Explanation
An indirect relationship exists between two or more variables if they move in opposite direction i.e. if one moves up, the other moves down. It is also called inverse relationship or negative relationship. Thus. if the quantity demanded is indirectly related to the consumer's income, it means that if the income of the consumer increases, the quantity demanded of the commodity will decrease and vice-versa. Such relationship exists between consumer's income and quantity demanded for an inferior good. This is because, as the income increases, the status of the consumer changes (better off) and thus, the consumer will not be willing to consume inferior goods.