In spite of the fact that the price of the television sets refrigerators, air conditions etc. have been continuously rising their demand does not…

CA Foundation · Business Economics · MTP · April 2025
In spite of the fact that the price of the television sets refrigerators, air conditions etc. have been continuously rising their demand does not stand any tendency to fact because they are
(A) A. Conspicuous goods
(B) B. Giffen goods
(C) C. Speculative goods
(D) D. Conspicuous necessities.

Suggested Answer and Working Notes:

Correct Answer: Option (D)

D. Conspicuous necessities.

Topics: Theory of Demand and Supply

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