Q74
Price and demand are positively correlated in case of
A.
Normal goods
B.
Comforts
C.
Giffen goods
AnswerD.
Luxuries
Answer: Option C
Solution
Answer: Option C
Solution:
Price and demand are positively correlated in case of Giffen goods. A Giffen good is a product for which demand increases as the price increases and falls when the price decreases.