Veblen Goods facts
While investigating facts about Veblen Goods, I found out little known, but curios details like:
Veblen goods, a term used for products that consumers buy BECAUSE they're expensive.
Veblen goods, luxury goods for which the quantity demanded increases as the price increases
In my opinion, it is useful to put together a list of the most interesting details from trusted sources that I've come across. Here are 5 of the best facts about Veblen Goods I managed to collect.
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There are economic concepts call "Giffen" and "Veblen" goods in which the demand of a specific good increases as the price increases
