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प्रश्न
Give one point each of similarity and dissimilarity between Giffen goods and Veblen goods.
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उत्तर
- Similarity: In case of both - Giffen goods and Veblen goods, demand curve slopes upward indicating positive relationship between price and quantity demanded.
- Dissimilarity: Giffen goods are demanded by its poor people whereas Veblen goods are demanded by the rich people.
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संबंधित प्रश्न
State with reason whether you agree or disagree with the following statement:
When the prices of Giffen goods falls, demand for such goods rises.
State with reason whether you agree or disagree with the following statement:
When price of Giffen goods fall, the demand for it increases.
State with reasons whether you agree or disagree with the following statement:
There is a direct relationship between the price of Giffen goods and its demand.
State with reason whether you agree or disagree with the following statements:
When price of Giffen goods fall, the demand for it increases.
State with reason whether you agree or disagree with the following statement:
When price of Giffen goods fall, the demand for it increases.
State with reasons whether you agree or disagree with the following statements :
When price of Giffen goods fall, the demand for it increases.
In which exception to the law of demand does the consumer equate price and quality.
Which of the following best describes a Giffen good?
Which exception to the law of demand is primarily based on consumer beliefs about product quality?
What happens to the demand for necessities like salt or electricity when their prices increase?
