Define giffin goods?
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Posted by Ujjwal Soni 6 years, 3 months ago
- 2 answers
Yogita Ingle 6 years, 2 months ago
Giffen goods are special kind of goods on which the consumers spends most of his income and their demand rises with an inrease in price and demand falls with decrease in price level. For example when the prices of jowar, bajra reduces, then the consumer tends to consumer less of those items and consume superiror goods such as wheat and rice.
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Chikki Kaur 6 years, 2 months ago
1Thank You