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The interest bend is by and large descending inclining, yet for certain products it is up slanting. Two such kinds of merchandise have been given

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The interest bend is by and large descending inclining, yet for certain products it is up slanting. Two such kinds of merchandise have been given denitions and names that are in like manner use: Veblen products, products which in light of style or agging are more appealing at more exorbitant costs, and Giifen merchandise, which, by prudence of being second rate products that assimilate an enormous piece of a customer's pay (e.g., staples like the exemplary illustration of potatoes in Ireland}, may see an expansion in amount requested when the value rises. The explanation the law of interest is abused for Gifien products is that the ascent in the cost of the great has a solid pay impact, pointedly lessening the buying force of the buyer so he switches from extravagance merchandise to the Gil-fen great, e.g., when the cost of potatoes rises, the Irish worker can never again bear the cost of meat and eats more potatoes to cover for the lost calories

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