Giffen good

Giffen good
Giffen good /gifˈən gŭd/ (economics, etc)
A foodstuff of relatively low quality which forms an important part of the diet of low-income households, demand for which (contrary to the normal rule) increases when its price rises and decreases when it falls
ORIGIN: Scottish economist Sir Robert Giffen (1837–1910) noted this effect in regard to potatoes

Useful english dictionary. 2012.

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