In which of the following case, law of demand fails
Answered 7 yr ago
bhavishya kumarCorrect Answer: Giffen goodsA ‘Giffen good’ is a special variety of inferior good. Sir Robert Giffen of Scotland observed in the 19th century (1840s) that poor people spent the major portion of their income on a staple item, viz., potato. If the price...Read more
Fitch lowers India's growth forecast to 6.9% for FY18
Answered 7 yr agoFitch Ratings has lowered India's economic growth forecast for the current fiscal to 6.9% from 7.4% after the GDP growth “unexpectedly faltered“ in the April-June quarter.The credit rating agency said however that it expects the economic activity to accelerate in the second...Read more
Shame Is Lame
Answered 7 yr agoIncrease toilet coverage only by consensual not coercive meansFive states Madhya Pradesh, Maharashtra, Chhattisgarh, Jharkhand and Haryana have declared their urban areas open defecation free (ODF). These claims will be scrutinised but the important point is that pub...Read more