Anushka posted an Question
April 19, 2021 • 19:29 pm 30 points
  • UGC NET
  • Economics

I think the answer should be 3. kindly check.

I think the answer should be 3. kindly check.. it's given 2

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  • Reshma gupta Best Answer

    veblen effect- Abnormal market behavior where consumers purchase the higher-priced goods whereas similar low-priced (but not identical) substitutes are available. its relatable to luxury goods. snob effect- its very much similar to veblen but describe the consumer as a.seeker of unique products.Snob effect refers to the desire to possess a unique commodity having a prestige value.  The quantity demanded of a commodity having a snob value is greater, the smaller the number of people owning its. so answer should be snob effect not veblen effect

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