Question
Goods whose demand increases as their price rises are
known as?Solution
Veblen goods are luxury items for which demand increases as their price rises, as higher prices increase their perceived value or status.
More Economics Questions
Choose the number which is different from others in the group.
5, 11, 19, 29, 41, ?
12, 18, 28, 42, 52, ?
Find the wrong number in the given series.
3 1.5 1.5 ? 4.5 11.25
...130Â Â Â Â Â Â Â 155Â Â Â Â Â Â Â 146Â Â Â Â Â Â Â 195 Â Â Â Â Â Â 186 Â Â Â Â Â Â Â ?
...102, 246, 442, 698, 1022, ?
34, 18, 20, ?, 70, 180
8 9 22 75 316 ?
...112 ? 336 840 2520 8820
...47Â Â Â 82Â Â Â 117Â Â Â 152Â Â Â 187Â Â Â ?
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