What Is a Giffen Good

question 178

Essay

What is a Giffen good?

---

Definitions:

Anomie

A state or condition of society or an individual characterized by a breakdown or absence of social norms and values, often leading to feelings of alienation.

Conflict Theory

A theoretical perspective that views social and economic institutions as tools of struggle between groups or classes, leading to inequality and conflict.

Group Relationships

Refers to the dynamics and interactions that occur among individuals when they form groups, affecting behavior, attitudes, and social structures.

Society

A group of individuals sharing a common territory and culture, and who interact and create relationships that form a distinct entity with shared norms and values.