Question

Giffen goods are ___

A. Luxury goods
B. Inferior goods
C. Capital goods
D. Prestige goods​

Answer 1

Answer:

inferior goods is the answer

Answer 2

Answer:

b. Inferior Goods

Explanation:

Giffen goods are inferior goods, on which a large part of consumer's income is spent.

It is an exception to the Law of Demand. In case of giffen goods, as the income of consumer increases, demand for giffen goods decreases and vice-versa.