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Giffen goods

Giffen goods is the plural of Giffen good.

Meaning of Giffen good

Noun

Giffen good (plural Giffen goods)

  1. A type of inferior good for which the quantity demanded increases when its price rises, and decreases when its price falls, thus violating the usual law of demand.
    • To qualify as a Giffen good, a good must be inferior and must have an income effect strong enough to overcome the substitution effect. The example often cited of a possible Giffen good is the potato during the Irish famine of 1845–1849.2008, Libby Rittenberg, Principles of Microeconomics, Flat World Knowledge, →ISBN, page 182

Questions about Giffen goods

What is Giffen goods the plural of?
Giffen goods is the plural of Giffen good.

Words near Giffen goods in the dictionary

  1. giffed
  2. Giffee
  3. Giffees
  4. Giffen
  5. Giffen good
  6. Giffen goods
  7. Giffens
  8. giffies
  9. Giffin
  10. giffing
  11. Giffins

Source and license

Adapted from Wiktionary: Giffen goods (page history and authors); Giffen good (page history and authors). Text available under the Creative Commons Attribution-ShareAlike 4.0 license. Word.ws reformatted the entry and added links. Wiktionary data of 2026-09-02.

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