Solved UPSC CDS/OTA Question
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Q · Demand and SupplyMedium · 45s
Which goods go against the Law of Demand?
TopicDemand and Supply
Question Typemultiple choice
DifficultyMedium
Marking+1 / −0.33
Test Duration30 min
Step-by-Step Solution
The complete worked solution.
Every step explained - no skipped algebra.
Giffen goods → demand rises when price rises (due to income effect).
Veblen goods → demand rises when price rises (status symbol effect).
Final Answer: Option C - Giffen goods and Veblen goods