![Giffen good Giffen good](https://digitalteachers.co.ug/wp-content/uploads/2022/09/Bbosa-Science.png)
Giffen good
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 and the demand for Giffen good falls as income increases.
CATEGORIES Economics
TAGS Dr. Bbosa Science