#25 Giffen Goods and Inferior Goods (Substitution effect )| by Hardev Thakur

#25 Giffen Goods and Inferior Goods (nSubstitution effect )| by Hardev Thakur
Published on : 29/05/2020
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This Video Talks about What is Giffen Goods and what is inferior goods and how these goods are different from normal Goods. Also we have discussed here what will be the price effect, substitution effect and income effect in the case of these goods and when will be these effect positive or negative. here we will come to know whether substitution effect is positive effect or negative effect and why it is different from cross elasticity of demand in case of substitution. we used the hicksian method of substitution effect to find out the substitution effect, where we use compensating principle. i strongly believe you will like this video and i would like to thank you for every second of your time you give to this channel for learning. keep learning , keep growing. Thankyou.
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#GiffenGoods #InferiorGoods #Substitutioneffect #PriceEffect #IncomeEffect #HicksianMethodofsubstitutionEffect #Positiveeffect #negativeeffect #learntocompete #HardevThakur