Independence Day Sale is liveGet up to 75% OFFGrab the offer
Market and Types of Goods · UPSC CDS/OTA · Question 7 of 66

Market and Types of Goods: Giffen goods show which of the following characteristics?

Step-by-step solution. Market and Types of Goods for UPSC CDS/OTA.

Topic
Market and Types of Goods
Subject
General Studies
Difficulty
Medium
Solve Time
45-60 sec

Solved UPSC CDS/OTA Question

A solved UPSC CDS/OTA PYQ - decoded step-by-step.

Solve it the standard way once - then learn the shortcut.

Q · Market and Types of GoodsMedium · 45s

Giffen goods show which of the following characteristics?

TopicMarket and Types of Goods
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 are inferior goods where the income effect dominates the substitution effect, so demand rises with price.

Final Answer: Option A - As the price rises, demand rises
Solve Question✦ Build Plan
Giffen goods show which of the following… - Market and Types of Goods (General Studies) Solved Question