Goods for which the quantity demanded increases as price increases are _____ goods.
A) inferior
B) substitute
C) normal
D) Giffen

Question

Quizplus · Accepted Answer

Giffen goods are a type of inferior good for which demand increases as the price increases, contrary to the typical law of demand. This phenomenon is due to the strong income effect of a price increase that outweighs the substitution effect.

Goods for Which the Quantity Demanded Increases as Price Increases