Inferior goods refer to a specific type of product that experiences a decline in sales when income levels of consumers increase. These products are often seen as low-quality or unessential items that individuals purchase when they have limited disposable income. Synonyms for inferior goods include low-end goods, budget items, cheap goods, and low-cost products. Other related terms include economy items, discount products, and entry-level goods. These types of products are often contrasted with superior goods, which are seen as high-end or luxury items that experience an increase in demand as consumer incomes rise.