An analysis of Giffen goods where an increase in price leads to an increase in quantity demanded due to the income effect outweighing the substitution effect.
The change in demand for a good whose price has altered which would have resulted if prices had stayed the same, but incomes had risen or fallen sufficiently to bring the consumer to the same level of welfare as after the price change.
A comprehensive exploration of the 'price effect' in consumer theory understanding consumption variations due to changes in commodity prices.
An equation detailing how the effect on demand for a good due to a price change can be divided into substitution and income effects.
A comprehensive exploration of the concept of substitutes in economics—goods or services that can be used to satisfy similar needs.
The effect on the demand for a good when the price of another good increases, assuming constant utility.
