Inferior Goods

As income or general economic output increases, demand for inferior goods decreases. The same is true in reverse, which is to say that, as income or general economic output decreases, demand for inferior goods increases.

To classify a good as inferior, the context and market has to be taken into account, since a good classified as inferior in the US might be a normal good in a developing country.

Spam is an example of an inferior good in the US, since with increased income, most people opt for fresher, less Jello-y forms of meat.