The only Giffen goods that have been identified so far in the real world are luxury goods.

Question

Quizplus · Accepted Answer

The only known examples of Giffen goods in the real world have been staple goods, like potatoes or rice, often found in poor households where a sudden increase in their price leaves less money for other necessities, leading people to paradoxically purchase more of the staple good as its price continues to rise. Luxury goods have not been identified as Giffen goods.

The Only Giffen Goods That Have Been Identified So Far