Giffen Goods Product Comparison”

Giffen Goods do not follow standard consumer demand theory. They are products or services whose demand increases when their price increases and fall with price decreases. Typically, they are low-income, nonluxury products.

• Choose two products that fall within the category of a Giffen Good.
• After some individual research, write a 2-page paper describing each product, comparing the two products.
• Include reasons for each product’s increasing demand.

*The paper should be size 12-font, double-spaced, and include an introduction, body, and conclusion (no title page or references required for this assignment).