ECONOMICS
DEMAND
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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a normal good
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an inferior good
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a complement for higher income people
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none of these are correct
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Detailed explanation-1: -Add some aromatics. One minor change that can really make your ramen pop is to use aromatics like ginger, garlic, sesame oil and onions. These are staples in Asian cuisine, so even just frying them together in some oil or boiling them in your broth before adding the noodles can enhance the flavor of your meal.
Detailed explanation-2: -This is because the Chinese noodles in ramen use “lye water (kansui)” in the flour during the manufacturing process. This gives the noodles a distinctive chewy and yellow color – a major feature of the dish – that is different from other wheat noodles like pasta and udon.
Detailed explanation-3: -An increase in supply will lead to a reduction in price and an increase in the quantity of ramen. However, since ramen is an inferior good, and as income rises, less ramen will be demanded. This decrease in supply will decrease both the price and quantity of ramen noodles.
Detailed explanation-4: -Ramen noodles are an example of inferior good. This is because they have a negative income elasticity of demand. Their demand tends to decrease as consumers’ incomes increases and vice versa.