Economics · Consumer Behaviour

When the price of which of the following commodities decreases, its consumption or demand also decreases, defying the typical law of demand?

Verified Solution4 OptionsUpdated: October 2026👁️1 View

1Veblen goods
2Giffen goods✓
3Inferior goods
4Normal goods

Correct answer

Giffen goods

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When the price of which of the following commodities decreases, its consumption or demand also decreases, defying the typical law of demand?

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When the price of which of the following commodities decreases, its consumption or demand also decreases, defying the typical law of demand?

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