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Definition of Giffen good
1. Noun. A good which people consume more of as only the price rises; Having a positive price elasticity of demand. ¹
2. Hypernyms. inferior good ¹
¹ Source: wiktionary.com
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1. Noun. A good which people consume more of as only the price rises; Having a positive price elasticity of demand. ¹
2. Hypernyms. inferior good ¹
¹ Source: wiktionary.com