Question

In case of , Higher prices will lead to higher demand as these are associated with luxury and status.

• A. Giffen Goods
• B. Normal Goods
• C. Veblen Goods

Answer 1

The correct option is C Veblen Goods

<!--td {border: 1px solid #ccc;}br {mso-data-placement:same-cell;}--> Veblen goods, higher prices will lead to higher demand as these are associated with luxury and status, for example Luxury cars, Perfumes etc.