Answer
A good with an income elasticity of less than zero is described as an inferior good.
Work Step by Step
Income elasticity = $\frac{\text{percentage change in income }}{\text{percentage change in quantity demanded }}$
Goods with an income elasticity of less than zero are called inferior goods. An increase in income will result in a decrease in quantity demanded. This is due to the fact that when they have greater income, consumers will switch from these inferior goods to better quality products.
