Neelam kumari Asked a Question
April 29, 2021 7:08 pmpts 250 pts
when consumers seek to be different and exclusive by demanding less of a community as more people consumers it. This phenomenon is known as..
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  • Manisha
    This phenomenon is known as snob effect
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  • Archana sharma
    Snob effect - means when a product becomes common among all, some people( usually status seeking rich people) decrease or altogether stops its consumption.
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  • Rucha rajesh shingvekar thankyou
    The snob effect is a phenomenon described in microeconomics as a situation where the demand for a certain good by individuals of a higher income level is inversely related to its d...
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