2nd October 2019

investopedia
16

What is the difference between Giffen goods and Veblen goods?

A veblen good is a good for which demand increases as the price increases, because of its exclusive nature and appeal as a status symbol. However, a Veblen good is generally a high-quality, coveted product, in contrast to a Giffen good, which is an inferior product that does not have easily available substitutes.
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