Question

what do you mean by Griffen Goods ? ​

Answer 1

Answer:

A Giffen good is a low income, non-luxury product that defies standard economic and consumer demand theory. Demand for Giffen goods rises when the price rises and falls when the price falls.

Answer 2

Answer:

• Giffen good is a low income, non-luxury product that defies standard economic and consumer demand theory. Demand for Giffen goods rises when the price rises and falls when the price falls.

Explanation:

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