Posted December 22, 2012
I'll teach you some basic economics.
The law of demand says that the higher the price of a good, the less demand there is for it (and vice versa).
There is, however, one exception, the so called "Giffen good" which is demanded more as its price increases. The basis for this is that it is still the cheapest good available and people still demand it as they don't have assets available to buy other goods.
The law of demand says that the higher the price of a good, the less demand there is for it (and vice versa).
There is, however, one exception, the so called "Giffen good" which is demanded more as its price increases. The basis for this is that it is still the cheapest good available and people still demand it as they don't have assets available to buy other goods.