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RE: Economic Concepts - Giffen Goods (Video)

in #economics7 years ago

This I an amazing concept of economics here, bring the concept of demand and want into concept, a giffen good as you say are not too common as sometimes we mistake giffen goods for normal goods, and this days the rate at which people earn is becoming lower, and I think this is basically the reason for the demand of giffen goods.

And I will say Gourmet sausages because these days it acts as an inferior food which people can uses to replace quality food when the money is lacking to buy good food.
It can come in handy and no matter how lowly your income is, you can still afford to get it.

And for me, the option D hence the answer for me

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Thank you for providing such a good detailed explanation of your answers. I'll let you know later if your logic is correct.