TERMIUM Plus®

The Government of Canada’s terminology and linguistic data bank.

Giffen effect [1 record]

Record 1 2001-08-23

English

Subject field(s)
  • Saving and Consumption
  • Trade
DEF

The situation noted by Sir R. Giffen that a rise in the price of all goods will, in the case of the poor whose incomes do not increase, cause an increase in the quantity of staple items of food consumed despite the increase in their price in order to make the income cover the needs.

OBS

Compare with Giffen good.

Key term(s)
  • Giffen's paradox

French

Domaine(s)
  • Épargne et consommation
  • Commerce
DEF

Phénomène économique défini par Giffen.

Spanish

Campo(s) temático(s)
  • Ahorro y consumo
  • Comercio
DEF

Fenómeno que se produce, de forma aparentemente paradójica, cuando al aumentar el precio de un producto crece rápidamente su demanda. Su nombre se debe al economista británico Giffen (1837-1910), el primero en exponer tal evidencia de manera explícita.

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