CameraIcon

SearchIcon

MyQuestionIcon

5

You visited us 5 times! Enjoying our articles? Unlock Full Access!

Abnormal Goods

Law of demand...

Question

Law of demand must fail in case of:

A

normal goods

No worries! We‘ve got your back. Try BYJU‘S free classes today!

B

Giffen goods

Right on! Give the BNAT exam to get a 100% scholarship for BYJUS courses

C

economic goods

No worries! We‘ve got your back. Try BYJU‘S free classes today!

D

none of these

No worries! We‘ve got your back. Try BYJU‘S free classes today!

Open in App

Solution

The correct option is B
Giffen goods

Law of demand fails in case of Giffen goods.

Suggest Corrections

thumbs-up

5

Similar questions

Q. In the case of inferior goods, the law of demand fails.

Q. In case of Giffen goods, Demand of Goods increases with increase in Price of Goods

Q. Giffen goods must be inferior goods, while inferior goods, may or may not be Giffen goods. Comment.

Q. Do you agree with the view that the law of demand need not necessarily fail in case of inferior goods?

Q. In the case of a Giffen good, the demand curve will be.

View More

Join BYJU'S Learning Program

similar_icon

Related Videos

lock

The Law of Demand

ECONOMICS

Watch in App

explore_more_icon

Explore more

Standard XI Economics

Join BYJU'S Learning Program

CrossIcon