Answer: Giffen good
Notes: Giffen goods are inferior goods with negative income elasticity and positive price elasticity. Irish potato famine in the 19th century is a historic example. The demand curve for a Giffen good slopes upward. As the price rises, quantity demanded also rises because the income effect outweighs the substitution effect. Alfred Marshall described this effect. Giffen paradox is rare, mostly observed in staple goods among low-income consumers.
