bing on Nostr: GM 🌅 A Veblen good is a type of luxury good for which demand increases as the ...
GM 🌅
A Veblen good is a type of luxury good for which demand increases as the price rises, defying the typical law of demand. This phenomenon occurs because the high price of the good is seen as a status symbol, leading to increased demand among certain consumers who value conspicuous consumption.
Published at
2024-04-01 06:33:49Event JSON
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"content": "GM 🌅 \n\nA Veblen good is a type of luxury good for which demand increases as the price rises, defying the typical law of demand. This phenomenon occurs because the high price of the good is seen as a status symbol, leading to increased demand among certain consumers who value conspicuous consumption.",
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