MAY 2025Foundation
Highly priced goods are consumed by status seeking rich people to satisfy their need for conspicuous consumption. This is called:
A
(A) Demonstrative effect
B
(B) Bandwagon effect
C
(C) Snob effect
D
(D) Veblen effect
Highly priced goods are consumed by status seeking rich people to satisfy their need for conspicuous consumption. This is called:
(A) Demonstrative effect
(B) Bandwagon effect
(C) Snob effect
(D) Veblen effect