+
Activity
Robert Schenk, PhD

More About Demand

For Students 9th - 10th
This essay provides a good description of normal goods, inferior goods, substitutes, and complements, and how these are each related to the law of demand.
+
Handout
Wikimedia

Wikipedia: Giffen Good

For Students 9th - 10th
This site explains the conditions that must exist in order for a good to be classified as a Giffen Good. It also gives examples of times when a good could become a Giffen Good, e.g., potatoes during the Irish Potato Famine.
+
Handout
Wikimedia

Wikipedia: Inferior Good

For Students 9th - 10th
Offers a description of an inferior good, and uses an Indifference Curve to illustrate how an increase in income will cause a person to demand less of a good.