Inferior goods

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what is an inferior good? An inferior good is any good that has an inverse relationship between changes in income and the demand curve. This means that the demand of the goods will go up as consumer income goes down
what is an example of inferior goods? A good example of inferior good would be any good sold from a discount store. These goods are seen as less desirable and so people would normally shy away from buying them. However if the income declines, people get more interested in the goods
what is a giffen good? A giffen good is a special type of inferior good that disobeys the "Laws of demand". When the price of a giffen good rises, the demand for that good rises as well

what is an inferior good?

what is an example of inferior goods?

what is a giffen good?

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