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प्रश्न
What are Giffen goods?
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उत्तर
Giffen goods are poor man's goods which people consume more as their prices rise.
APPEARS IN
संबंधित प्रश्न
State with reason whether you agree or disagree with the following statement:
When the price of Giffen goods falls, the demand for it increases.
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Questions:
- Diagram’ A ‘represents _____in demand (1m)
- Diagram ‘B’ represents _____in demand (1m)
- In diagram ‘A’ movement of demand curve is in_____ direction (1m)
- In diagram ‘B’ movement of demand curve is in______ direction (1m)
State with reasons whether you agree or disagree with the following statement:
When price of Giffen goods fall, the demand for it increases.
State with reason whether you agree or disagree with the following statements:
When price of Giffen goods fall, the demand for it increases.
'Price is an indicator of quality'. The statement applies to ______.
State with reason whether you agree or disagree with the following statement:
When price of Giffen goods fall, the demand for it increases.
Mention one exception to the law of demand. Give one point only.
State two circumstances under which the demand curve slopes upwards to the right.
Which of the following best describes a Giffen good?
What happens to the demand for necessities like salt or electricity when their prices increase?
