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what is the difference between inferior goods and giffen goods
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what is the difference between inferior goods and giffen goods
Giffen goods are good whose demand increases with the increase in its price and Visa Versa on the contrary inferior goods are those goods whose demand decreases with an increase in the consumer income
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what is the difference between inferior goods and giffen goods
in case of inferior goods its demand decreases with increase in income of the consumer..in case of giffen goods the theory of law of demand does nt follow as giffen goods are those goods whose demand fall with the fall in the price
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what is the difference between inferior goods and giffen goods
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