New RBI Grade B 2025 Notification will come Soon! Enroll Here

    Question

    The demand curve for a giffen good

    is
    A Upward rising Correct Answer Incorrect Answer
    B Downward falling Correct Answer Incorrect Answer
    C Parallel to quantity axis Correct Answer Incorrect Answer
    D Parallel to price axis Correct Answer Incorrect Answer
    E None of these Correct Answer Incorrect Answer

    Solution

    For a giffen good, demand increases as the price increases and vice versa (Price effect is positive)

    Practice Next