Giffen good: related pages
Income effect
The component of the increase in sales of a good with lower prices attributable to consumers being better off as a result of the lower price.
Income elasticity
The rate of change of demand for a good with change in consumers incomes.
Price elasticity
The proportionate change in sales of a product that will be bought as a result of a unit change in price.
Cross elasticity
Change in demand or supply of one good as a result of a change in something related to another product.
Copyright Graeme Pietersz © 2005-2019
