📢 Too many exams? Don’t know which one suits you best? Book Your Free Expert 👉 call Now!
  • google app store apple app store
    • ✖

      Question

      Giffen goods are

      A Goods that are not dependent on price increase Correct Answer Incorrect Answer
      B Have to be purchased because there is no cheaper close substitute for them Correct Answer Incorrect Answer
      C Both a & b Correct Answer Incorrect Answer
      D None of the above Correct Answer Incorrect Answer
      E Only A Correct Answer Incorrect Answer

      Solution

      Demand for Giffen goods is heavily influenced by a lack of cheaper close substitutes and income pressures.

      Practice Next
      More Pricing and Market Structures Questions
      ask-question