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| Gif·fen goods [ gíffən gdz ] |
plural noun |
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| Definition: |
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U.K. inferior goods: goods of low quality on which people on low incomes spend a disproportionate amount of their income, and which typically experience a fall in demand when people's incomes rise
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| [Early 20th century. After the 19th century English economist Sir Robert Giffen, who developed the notion] |
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