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What is giffin goods and how …

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What is giffin goods and how it is different from inferior goods

Posted by Antima Agarwal 6 years, 11 months ago

CBSE > Class 12 > Economics

4 answers

Antima Agarwal 6 years, 11 months ago

Prena goyal but inferior goods are also low inquality ?

Antima Agarwal 6 years, 11 months ago

Tanya mandal why all giffen goods are inferir and wll inferior are not necessarily giffin

Tanaya Mandal 6 years, 11 months ago

Inferior good is a good whose demand increases when the consumer's income decreases and whose demand decreases as the consumer's income increases. ... The difference between the two is that while all giffen goods are inferior, all inferior goods are not necessarily giffen. Inferior goods ought to have a costly substitute.

Prerna Goyal 6 years, 11 months ago

Giffen goods is that type of good which is inferior in quality and on the giffen good law of demand is not operate it's graph is upward sloping

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