Giffen-good Definition

noun

A good which people consume more of as only the price rises; Having a positive price elasticity of demand.

Wiktionary

Other Word Forms of Giffen-good

Noun

Singular:
giffen-good
Plural:
Giffen goods

Origin of Giffen-good

  • named after Scottish economist Sir Robert Giffen, who was attributed as the author of this idea by Alfred Marshall in his book Principles of Economics.

    From Wiktionary

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